What’s the big deal?
Bank shares have long been the market darlings of the Australian share market, loved almost universally for both their juicy fully franked dividend yield, and their capital growth.
My guess is that Commonwealth Bank of Australia (ASX:CBA) shares alone have made millionaires out of many ordinary Australian investors.
These are people who bought CBA shares when they floated at $5.40 each in 1991. They likely added to their holdings along the way, reinvested dividends, and doggedly held all their CBA shares through to today.