Australia investors headed for cash deluge
Sydney
AUSTRALIAN investors will be showered in upwards of A$50 billion (S$53.6 billion) in cash over the next few weeks as dividend and bond payments come due, an injection of spending power that could prove a timely fillip for economic growth.
April looks to be a bumper month as a record A$27 billion in bonds mature, while coupon payments of A$4.3 billion amount to six times the monthly average. The flood comes as corporates are scheduled to pay over A$21 billion in dividends, a peculiar feature of Australia where companies pay out two third of earnings - more than double the level of their US counterparts.
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