From 23rd july. The chances of banks resuming paying dividends have risen sharply after the key regulator, the Australian Prudential Regulation Authority (APRA) indicated a change of mind.APRA head, Wayne Byres revealed the change of heart in a speech yesterday. But he also made it clear the regulator was not expecting to see banks boost dividends. He indicated that new guidance would go out to banks and other financial groups regarding dividends next week that would update the early guidance in April that told financial groups to seriously consider the need for capital conservation instead of dividends. Yesterday Mr. Byres said the economic outlook had brightened on the back of extended government support.
WBC Price at posting:
$17.85 Sentiment: Buy Disclosure: Held
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