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Yes, bank dividends are back but let’s not party like it’s 2019 – Sydney Morning Herald

Banks haven’t let the COVID crisis go to waste, taking the opportunity to cut their payout ratios to shareholders happy to grab what they can.

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The banking sectors dividend party has kicked off again as earnings recover, but rather than returning to the pre-COVID rave it will be more akin to a dinner party.
Two of three banks that reported their half-year profits this week – Westpac and National Australia Bank – have told investors they wont be allocating as much of their income to dividends.
Rather, they have reset their medium-term policies to hand shareholders about 65 per cent of profits in dividends rather than the roughly 80 per cent…

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