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View daily, weekly or monthly formats back to when UOB stock was issued. IG Bank S.A. accepts no responsibility for any use that may be made of these comments and for any consequences that result. Since the pandemic hit, however, share prices have declined, hitting a low of $17.57 in March 2020. We have carefully calibrated the restriction on dividends, taking into account the needs of investors who may rely on this income,’ he added.The 60% cap on Local Banks’ FY2020 dividends is intended to help banks balance the objective of capital conservation with the interests of shareholders, the central bank further noted.IG market strategist Pan Jingyi said in a client note that although MAS’ advisory had perhaps been a milder recommendation compared to other central banks’ orders, this would ‘nevertheless diminish the attractiveness of (Singapore banks’) shares in the short-term if adopted’.She added that the earnings of DBS Group, OCBC and UOB, to be reported next week, will be ‘one to scrutinise’, in light of the latest developments.As OCBC investment analysts themselves noted: 'The 60% cap on FY19 dividends for the sector translates to lower estimated dividend yields of +3.6% and +3.9% for DBS and UOB respectively, based on yesterday’s closing prices of S$20.40 and S$20.02. For now, Refinitiv data show that all three banks’ stocks currently have consensus broker ratings of ‘buy’ from 18 analysts. No representation or warranty is given as to the accuracy or completeness of this information. If you have a savings account or credit card in Singapore, there’s a fair chance it’s going to be from UOB. Find the latest UOB (U11.SI) stock quote, history, news and other vital information to help you with your stock trading and investing.

You can view our cookie policy and edit your settings Shares of Singapore’s three main banks fell over 3% each after the central bank recommended for FY2020’s dividends to be capped at 60% of FY2019’s sum.Shares of Singapore’s three main banks fell over 3% each on Thursday (30 July 2020) morning, after Singapore’s central bank placed a cap on dividend pay-outs for the 2020 financial year.In a press release posted on 29 July 2020, the Monetary Authority of Singapore (MAS) called on locally-incorporated banks headquartered in Singapore to cap their total dividends per share (DPS) for FY2020 at 60% of FY2019’s DPS.A 60% cap on FY2019 DPS would mean that DBS Group's FY2020 DPS will max out at S$0.738 (based on 2019's pay-out of S$1.23), OCBC's FY2020 DPS will be around S$0.318 (FY2019: S$0.53), while UOB's FY2020 DPS will end up around S$0.78 (FY2019: S$1.30).MAS also advised local banks to offer shareholders the option of receiving the dividends to be paid for FY2020 in scrip in lieu of cash.MAS said that the dividend restrictions are a pre-emptive measure to bolster the banks’ resilience and capacity to support lending to businesses and individuals through an uncertain period ahead for our economy.‘We are fortunate that banks in Singapore entered the ‘All the same, MAS wants to ensure the banks’ capital buffers remain ample in the face of significant uncertainties ahead, so that they can sustain lending to the economy. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it and as such is considered to be a marketing communication.