SINGAPORE - Investors sold off shares of DBS Group Holdings, Oversea-Chinese Banking Corp , and United Overseas Bank on Thursday after Singapore's central bank asked the lenders to cap dividends this year to ensure they can support businesses and individuals in the face of significant uncertainties ahead.
In what analysts called the regulator's first such pre-emptive move spurred by economic uncertainty following the Covid-19 pandemic, the Monetary Authority of Singapore on Wednesday urged banks to cap their total dividends per share this year to 60 per cent of last year's amount.Enjoy unlimited access to ST's best work Subscribe Now
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UBS, Citigroup differ on Singapore’s move to cap bank dividendsUBS Group AG and Citigroup Inc. are at odds on how Singapore’s move to cap dividend payouts at the nation’s banks will play out for equity investors.
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Shares of DBS, OCBC, UOB tumble after MAS call to cap dividendsSINGAPORE (THE BUSINESS TIMES) - Shares of Singapore's local lenders extended their slide on Thursday morning (July 30), after the central bank asked them to cap dividend payouts.. Read more at straitstimes.com.
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MAS calls on local banks to cap this year's dividends at 60% of previous year'sTHE Monetary Authority of Singapore (MAS) on Wednesday has called on local banks to cap their total dividends per share (DPS) for FY2020 at 60 per cent of the amount in the previous financial year, in a move to shore up capital amid the uncertain economic climate. Read more at The Business Times.
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Singapore bank shares fall after regulator caps dividendsShares in Singapore banks fell in early Thursday trade after the central bank asked local banks to cap dividends this year to conserve capital and increase lending capacity amid an uncertain economic outlook during the COVID-19 pandemic. Shares in DBS Group lost 3.3%, OCBC shed 2.8% and United Overseas
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MAS urges banks to cap dividends in face of economic uncertaintySINGAPORE (Reuters) - The Monetary Authority of Singapore asked its banks on Wednesday to cap dividend payments this year to conserve capital and increase capacity to lend to businesses and individuals due to the grim economic outlook caused by the Covid-19 pandemic.. Read more at straitstimes.com.
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