Banking
Israeli bank regulator extends dividends payment policy to year-end
JERUSALEM (Reuters) – Israel’s banking regulator on Sunday extended until the end of the year a temporary provision allowing banks to resume paying dividends as the country recovers from the COVID-19 crisis.
In a statement, the Bank of Israel maintained its advisory to cap dividends at 30% of 2020 and 2021 profits, saying a higher figure at this time would “not be considered prudent and conservative capital setting”.
At the start of the global pandemic last year, the central bank instructed lenders to suspend dividend distribution and share buy-backs. It gave the go-ahead two months ago for limited dividend payments to resume.
Announcing a three-month extension of the dividends policy through Dec. 31, the bank noted “the increasing trend of recovery from the COVID-19 crisis” and the “soundness” of Israel’s banking system.
But it said discussions on dividend distributions should still take into account “the level of uncertainty regarding the continuation of the COVID-19 crisis and its future economic implications”.
(Reporting by Jeffrey Heller; Editing by Alexander Smith)
-
Top Stories3 days ago
After VW plant victory, UAW sets its sights on Mercedes in Alabama
-
Business3 days ago
Mike Bahun and Fundraising University Make a Lasting Impact on Sports Programs Nationwide
-
Investing3 days ago
Forex Market Trends to Watch Out For in 2024
-
Top Stories3 days ago
Hedge fund borrowing hits five-year peak, Goldman Sachs says