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Singapore banks' dividend cap to bring short-term pain, but higher payouts in end

Shares of Big Three local banks slide on Thursday after Wednesday's news

Fiona Lam

Published Thu, Jul 30, 2020 · 09:50 PM

Singapore

SHARES of Singapore's local lenders extended their slide on Thursday, after the central bank asked them to cap dividend payouts.

At the closing bell, DBS had dropped S$0.63 or 3.1 per cent to S$19.77; OCBC Bank had tumbled S$0.34 or 3.8 per cent to S$8.56, and UOB fell S$0.63 or 3.2 per cent to S$19.39. They were the most actively traded counters by value on the bourse for the day.