SINGAPORE (Feb 28): Investors will be pleased that the local banks have raised their dividends in 2HFY2019 ended Dec 31, 2019, but they are concerned whether the elevated dividends can be sus­tained. No wonder the CEOs of the three banks went some way to allay these concerns during their respective results briefing.

DBS Group Holdings, which pays divi­dends quarterly, has raised its final dividend for 4QFY2019 ended Dec 31,2019, to 33 cents, taking full-year dividend to $1.23 per share for 2019. In all, DBS will be paying out $3.145 bil­lion in dividends this year, representing a pay­out ratio of 49.2%. DBS’s largest shareholder is Temasek Holdings which owns 481.62 mil­lion shares or 29.93% of the bank.

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