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On this episode of The nestegg Podcast, host Maja Garaca Djurdjevic and three experts discuss the latest in equities, property investing and super.

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Steve Waters, director of Right Property Group, chats about the latest in property, including the much-talked-about use of macro-prudential measures to cool the rapidly expanding market.

RMIT’s senior lecturer of finance, Dr Angel Zhong, talks about soaring ETFs, what they are and why young investors, in particular, are jumping onboard their latest surge. Dr Zhong also takes a closer look at BNPL platforms.

And lastly, tax and super guru Timothy Munro gives his thoughts on Prime Minister Scott Morrison’s choice to backtrack on any further SG changes and looks at the impending end of the low and middle income tax offset.

Have a question for our experts? Get in touch at [email protected] and you might get featured on the next episode.

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Learn the best strategies in investing and options like cryptocurrency, bonds, mutual funds, property and stock market." ["secure"]=> int(0) ["page_description"]=> string(7) "nestegg" ["page_rights"]=> NULL ["robots"]=> NULL ["page_heading"]=> string(71) "Invest Money - Strategies and Tools for your Investment Goals | nestegg" ["access-view"]=> bool(true) } ["initialized":protected]=> bool(true) ["separator"]=> string(1) "." } ["displayDate"]=> string(19) "2021-04-20 07:06:30" ["slug"]=> string(120) "16662:is-the-market-overheating-should-etfs-take-your-fancy-and-what-s-happening-to-the-low-and-middle-income-tax-offset" ["catslug"]=> string(11) "302:podcast" ["link"]=> string(133) "/resources/podcast/is-the-market-overheating-should-etfs-take-your-fancy-and-what-s-happening-to-the-low-and-middle-income-tax-offset" ["image"]=> string(58) "images/podcasts/Angel_Zhong_Steve_Waters_Timothy_Munro.jpg" ["image_alt"]=> string(0) "" } }

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Don’t dish out dividends right now, banks told

By Grace Ormsby

April 09 2020
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Invest

Don’t dish out dividends right now, banks told

By Grace Ormsby
April 09 2020

Banks and insurers are strongly being advised against handing out dividends to investors for “at least the next couple of months”.

Don’t dish out dividends right now, banks told

By Grace Ormsby

April 09 2020
Share

Banks and insurers are strongly being advised against handing out dividends to investors for “at least the next couple of months”.

The Australian Prudential Regulation Authority (APRA) has said it expects authorised deposit-taking institutions (ADIs) and insurers to limit discretionary capital distributions in the months ahead.

In a letter to relevant institutions, the corporate regulator said this is to ensure they instead use buffers and maintain capacity to continue to lend and underwrite insurance.

Taking into account the current uncertain outlook, and a need to preserve capacity to prioritise these “critical” activities, APRA said “this includes prudent reductions in dividends”.

Over the next few months, APRA said it expects ADIs and insurers to “seriously consider deferring decisions on the appropriate level of dividends until the outlook is clearer”.

Even where a Bard is confident they would be able to approve a dividend before this – where they have undertaken “robust stress testing” and discussed this with APRA – “this should nevertheless be at a materially reduced level”.

At the time of writing, Westpac was the first big four bank to acknowledge the letter.

It indicated that no decision has yet been made by the Westpac board in relation to the 1H20 dividend, with a decision to be announced alongside the bank’s 1H20 results on 4 May 2020.

Macquarie Bank has also made a statement.

It said it will work through the details of APRA’s recommendations as the bank’s board considers final FY20 dividend amounts.

Meanwhile, Bank of Queensland (BOQ) said it has determined “that it is prudent to defer the decision on payment of an interim dividend until the economic outlook is clearer and stress testing results have been discussed with APRA”.

Commenting on the bank’s decision, chairman Patrick Allaway said “BOQ understands the impact of this decision on shareholders, however also acknowledges this guidance as a prudent step for the industry”.

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About the author

Grace Ormsby

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

About the author

Grace Ormsby

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