Business
Why some banks can still pay dividends – The Australian Financial Review
The banks have come to different conclusions on dividends but they are more tightly bunched on other metrics.
Its no accident that Westpac – unable to generate a multibillion dollar payday for its wealth business and facing the prospect of a $1.5 billion settlement with AUSTRAC – took the historic decision to can its first half dividend.
At the same time it’s easy to understand why CBA, which sold its asset management arm CFSGAM at 17 times earnings for $4.2 billion in 2019, and ANZ, which sold its wealth businesses in two transactions for $3.6 billion, can afford dividends.
NAB, which sold its insura…
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