I think payout ratio should be higher if they are going to invest less for growth. But that being said they could have said that explicitly in the announcement. There is also an open question of whether a dividend is the best form of capital return given the low P/B and P/E ratios, but banks are considered income stocks so it's unlikely they would go for a buy back even though it makes more sense to me.
MYS Price at posting:
$2.95 Sentiment: None Disclosure: Held
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