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In 2020, the pandemic fallouts have been deeply felt by
Australia banking sector, causing a dividends draught for
investors. As Australian Prudential Regulation Authority (APRA)
lifted the restrictions on capital distributions from banks in
December 2020 and the market is entering the earnings season, we
turn our focus to how much will the dividends from the banks - big
four banks in particular - return in the new year.
We expect the payout ratios of banks' dividends to fall between
pre-Covid-19 level and 50% cap previously required by the
regulator, as APRA continues to call for the banks to moderate the
payout ratio level.
Improving economic outlook and write-back of virus-related
provisions are expected to drive the upticks in banks' earnings in
the new year.
To access the report, please contact
dividendsapac@ihsmarkit.com
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