SINGAPORE - The Monetary Authority of Singapore (MAS) recently instructed local banks and finance companies to cap their total dividends per share for the 2020 financial year at 60 per cent of total dividends paid in 2019, and offer investors the option of receiving payouts in shares, not cash.
The move led to some raised eyebrows, primarily because the regulator has never before interfered in dividend policies, which are usually left to the discretion of directors.
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