Japan's top lenders boost shareholder returns after upbeat earnings

Tokyo

JAPAN'S top banks are stepping up dividend payments after reporting better-than-forecast earnings, responding to calls for bigger shareholder returns.

Japanese companies are under intense investor scrutiny lately to justify how their earnings are utilised, and have been criticised for hoarding too much cash. Prime Minister Shinzo Abe's economic growth initiatives are putting additional pressure as they try to stimulate money flow among businesses and households through more spending, investment and wage hikes.