Business
Bank dividends emerge from deep-freeze – Sydney Morning Herald
Retirees who depend on bank dividends for income cheer as lenders receive a green light to resume making half-yearly payouts.
Don Hamson, managing director of Plato Asset Management, estimates the big four banks paid as much as 30 per cent of all ASX200 company dividends last year, including franking credits.
However, things have changed radically as a result of the pandemic.
In April, the Australian Prudential Regulation Authority (APRA) pressured lenders to preserve capital and freeze their dividends, which Westpac and ANZ did, not paying out in the first half. NAB paid a far smaller dividend and effectively offset…
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