Local banks' good times - and dividend payouts

YOU would think bank shareholders would have been happy with the sparkling results for 2017, and much higher dividend payouts, but at last month's annual shareholders' meetings, there was more grumbling than good cheer.

To be clear among the thousands of shareholders who attended the meetings, it was a tiny minority who took to the microphones. But given that the overwhelming majority were silent, one cannot assume they were happy either. After all, there was often a smattering of applause for the speakers.

Even DBS - which paid out a handsome dividend of 93 cents, up 55 per cent, plus a special 50-cent dividend, as well as an 18 per cent return on the share price this year - came in for some grilling.