At the moment, yes. In the long term, the effect is likely to be different (for good reason, the div. history of most banks is extremely spotty at lower interest rates) and often dividends are simply suspended. Div. yield is one thing, but I wouldn't call it reliable. I would question whether the low payouts will stay that way.
That's why I'm keeping the investment banks for the time being and reducing the S&Ls.
