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Standard Bank reaffirms payment of 2019 dividend

After Sarb clarifies that payment of dividends already declared can be upheld.
Image: Bloomberg

Standard Bank said on Thursday it would pay its 2019 dividend of 540 cents per share, after the central bank clarified that guidance to scrap shareholder returns did not apply to dividends already declared.

Read: Covid-19: Freeze dividends and exec bonuses, Sarb tells bankers

The South African Reserve Bank said earlier this week it had asked lenders to put dividends on hold due to the coronavirus outbreak. But laws in South Africa mean that where a dividend has already been declared there is a legal obligation to pay.

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Great.

You are a bank not the Government.

Many of your shareholders are pensioners. The ANC considers nobody except themselves.

Even if you had access to shareholder register it would not have provided you with their age for “many” of them.

End of comments.

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