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

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.