MAS urges finance firms to cap dividends, following similar advice to banks

SINGAPORE: Finance companies incorporated in Singapore have been urged to cap their dividends, said the Monetary Authority of Singapore on Friday , following aThe central bank urged finance companies to cap their total dividends per share for the fiscal year 2020 at 60 per cent of the previous year's level.They are also encouraged to offer shareholders the option of receiving the dividends to be paid for 2020 in scrip in lieu of cash.

"Capital positions of the finance companies remain strong and the dividend restriction is a pre-emptive measure to bolster the finance companies’ ability to continue to support the credit needs of businesses and consumers in the current business environment," said MAS. "The dividend restriction for finance companies balances the objective of capital conservation to sustain lending with the interests of shareholders who may rely on this income."

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Singapore c.bank urges finance firms to cap dividendsThe Monetary Authority of Singapore said on Friday it had urged finance companies incorporated in the city-state to cap their dividends in order to improve their ability to support the credit needs of businesses and consumers. The central bank urged finance companies to cap their total dividends per
Source: YahooSG - 🏆 3. / 71 Read more »

Thai banking executive Predee Daochai named new finance ministerBANGKOK (REUTERS) - Thai banking executive Predee Daochai has been named the Southeast Asian country's new finance minister in a Cabinet reshuffle, according to an announcement published in the official Royal Gazette.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »