Business
Yes, bank dividends are back but let’s not party like it’s 2019 – Sydney Morning Herald
Banks haven’t let the COVID crisis go to waste, taking the opportunity to cut their payout ratios to shareholders happy to grab what they can.
The banking sectors dividend party has kicked off again as earnings recover, but rather than returning to the pre-COVID rave it will be more akin to a dinner party.
Two of three banks that reported their half-year profits this week – Westpac and National Australia Bank – have told investors they wont be allocating as much of their income to dividends.
Rather, they have reset their medium-term policies to hand shareholders about 65 per cent of profits in dividends rather than the roughly 80 per cent…
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