With the Financials having been beaten up so much lately, their yields (annual dividends divided by share price) are looking quite tempting. Of course some of these are not sustainable. For example, Bear Stearns tops the list with a whopping 11.4% yield. JP Morgan Chase's takeover of Bear will put an end to that. Currently JPM has a yield of ~3.5%.
Here are the top 20 yielding stocks of the S&P 500 as of yesterday's closing prices.
Christine Benz, Morningstar's Director of Personal Finance, pointed out on Squawk on the Street that investors should look for dividend paying stocks. However, she suggested stocks with yields over 7% require a lot of homework because they could represent troubled companies.