Why Canada’s banks have no plans to suspend dividends despite a global trend of cuts [Toronto Globe and Mail (Ontario, Canada)]
ING Group, N.V. (ING)
US:NYSE Investor Relations:
ing.com/investor-relations.htm
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Source: Toronto Globe and Mail
Why Canada’s banks have no plans to suspend dividends despite a global trend of cuts Canadian bank CEOs insist they will keep paying dividends, even as banks around the world have axed payouts under pressure from regulators to preserve capital within the banking system. Concern is mounting about the sustainability of banks’ dividends after major British and European lenders suspended payouts to prepare for an unpredictable health crisis. Banks everywhere are bracing for a major shock as measures to curb the spread of the new coronavirus shut down large parts of the global economy, putting millions out of work and making a painful recession into a virtual certainty. Canadian banks made it through the last financial crisis with dividends intact, and they have built generous capital reserves since then. They have also treated the payouts as more or less sacrosanct: Steady dividends serve as signals of health in a banking system and stopping the payouts can erode confidence. Dividends als
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