Business
Bank dividends to bounce back after ‘very grim’ year – Sydney Morning Herald
Bank shareholders are set to pocket higher dividends in the year ahead, after the worst-case scenarios of 2020 did not eventuate.
Peter Gardner, a senior portfolio manager at $1.8 billion fund Plato Investment Management, said banks’ dividend payout ratios would recover significantly, though distributions would remain below pre-COVID levels. “We certainly expect that bank payout ratios will go from 50 per cent where they have been, to around 70 per cent to 75 per cent,” Dr Gardner said.
Banks set aside billions for bad loans last year, and analysts say over the longer term boards could also announce “write backs” of these…
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