By Marc Lichtenfeld The Oxford Club’s Chief Income Strategist, Marc Lichtenfeld, takes a look at SMFG stock and its dividend safety rating below.
Earlier in the year, I recommended Sumitomo Mitsui Financial Group (NYSE: SMFG) in my newsletter, The Oxford Income Letter.
This was before COVID-19 made its appearance in the U.S. I liked Japan’s prospects for economic recovery and Sumitomo Mitsui’s position as the fourth-largest financial institution in Japan (although it generates 30% of its revenue from 39 other countries).
The company is also one of the technology leaders in the cashless society movement, which is something the Japanese government is strongly in favor of.
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