Sky News Business Editor Ticky Fullerton says “the really worrying thing” about ANZ’s $559 million remediation charge is what it does for investors and their dividend payments.
On Tuesday ANZ announced its second half earnings would be impacted by the remediation figure after the bank stacked up customer compensation charges. “There is a bit of a ding-dong over the ditch between and New Zealand, as to how much capital these banks are going to have to hold," she said. "This is a really important point because dividends come out of retained earnings.
BizTicky Then they should taken more interest in their board appointments and got some legal management happening.
BizTicky The shareholders always bear the brunt of misconduct because they own the business. How many of them sit there and expect dividend payments to come to them on autopilot? They are owners and their employees have done the wrong thing. ping annelisenews