Business
JobKeeper dividends fail ‘pub test’: Labor – The Australian Financial Review
Labor says companies paying higher dividends while receiving millions of dollars in taxpayer subsidies will undermine public confidence in the wage subsidy system.
The prudential regulator has limited banks paying dividends during the COVID-19-induced recession and banks are not eligible for the wage subsidies.
The Financial Review reported that retailers Nick Scali and Adairs receiving millions of dollars in federal government wage subsidies from the emergency $102 billion JobKeeper program are earning higher profits and paying significantly increased dividends to shareholders.
Sydney Airport on Tuesday disclosed that it had so far received $5 million i…
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