Aussie banks signal end of dividend growth as results slip
"Big Four" banks rethinking strategies to boost productivity and lower costs as profit margins get squeezed
Fri, May 06, 2016 - 5:50 AM
In a dire week of bank results, Westpac left its dividend unchanged after growing it since 2009, ANZ cut dividends for the first time in seven years and National Australia Bank (above) kept its dividend steady for the second straight half.
AUSTRALIA'S major lenders this week signalled they are ready to forego some of the highest dividends in the banking world after seven years of rising payouts, putting investors like the US$1.5 trillion pension industry on notice of lower returns in future.