Aussie banks signal end of dividend growth as results slip

Sydney

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.

In a dire week of bank results, Westpac Banking Corp left its dividend unchanged after growing it since 2009, ANZ Banking Group cut dividends for the first time in seven years and National Australia Bank kept its dividend steady for the second straight half.