• Will we see any special dividends from the banks as bad debt loan provisions are unwound? Watch here.

Bank dividend cuts to deliver blow to retirees and investors

Bank dividend cuts to deliver blow to retirees and investors

Rod Myer published an article in The New Daily discussing why the financial regulator has ordered the big banks to cut their dividends in response to the COVID-19 crisis – dealing a major blow to the incomes of investors and super fund members. Stuart Jackson comments on why APRA has ordered them to restrict their dividend payments to 50 per cent of their earnings. Read here. 


Stuart is the Portfolio Manager of The Montgomery [Private] Fund. Stuart joined Montgomery in 2015 after spending 19 years in research roles with JP Morgan in Australia and in New York. Stuart was appointed Executive Director at JP Morgan in 2005 and for 8 years was Deputy Head of Research. Prior to this he worked as an analyst in the Australian Equities team at Bankers Trust Asset Management for 3 years. Stuart is a CFA® charterholder.

This post was contributed by a representative of Montgomery Investment Management Pty Limited (AFSL No. 354564). The principal purpose of this post is to provide factual information and not provide financial product advice. Additionally, the information provided is not intended to provide any recommendation or opinion about any financial product. Any commentary and statements of opinion however may contain general advice only that is prepared without taking into account your personal objectives, financial circumstances or needs. Because of this, before acting on any of the information provided, you should always consider its appropriateness in light of your personal objectives, financial circumstances and needs and should consider seeking independent advice from a financial advisor if necessary before making any decisions. This post specifically excludes personal advice.

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