At the market's recent low on July 15th, there were numerous stocks with astronomical indicated dividend yields. With the gains in Financials and the overall market since then, however, these estimated yields have dropped significantly (although many remain high). Below we highlight the biggest percentage drops in yields for stocks in the S&P 500 since 7/15. The first six stocks either discontinued or cut their dividends since then. After these six names comes FNM and FRE, whose yields fell by roughly 50% as their share prices increased roughly 100%. Bank of America was yielding a ridiculous 13.82% on 7/15, and with no cut announced with their earnings report today, it looks like a buy at those levels could have been an opportunity of a lifetime (or maybe not). Regions Financial (RF) was yielding 22% on 7/15, but now yields 14.34%. If they're able to pay out, what a return that would be! Two other notables on the list are Citi and Lehman, whose yields fell roughly 30% over the last 3 trading days.
Below we list the S&P 500 stocks with the highest indicated dividend yields at the moment. But remember, buying Financials for their yields is a risky bet these days.