Home News Banking & finance

MAS lifts dividend restrictions on local banks and finance companies

Atiqah Mokhtar
Atiqah Mokhtar7/28/2021 5:56 PM GMT+08  • 3 min read
MAS lifts dividend restrictions on local banks and finance companies
MAS says local banks and finance companies are in a strong position to support the economic recovery.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

On July 28, the Monetary Authority of Singapore (MAS) announced that dividend restrictions on locally-incorporated banks and finance companies headquartered in Singapore will not be extended.

In July and August 2020, MAS called on banks and finance companies respectively to cap their total dividends per share (DPS) for FY2020 at 60% of FY2019’s DPS, and offer shareholders the option of receiving the remaining dividends to be paid for FY2020 in shares in lieu of cash.

The dividend restrictions were a pre-emptive measure, introduced to ensure that local banks and finance companies maintain strong lending capacity to support the economy throughout the pandemic, given the significant uncertainties at that time.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.