80 Pct of Japan Regional Banks to Keep Annual Dividends Unchanged
Newsfrom JapanEconomy Politics
Tokyo, June 15 (Jiji Press)--Despite falling profitability amid the current low-interest environment, about 80 pct of regional banks across Japan expect to keep their dividends for the year through March 2021 unchanged from the previous year, a Jiji Press survey showed Monday.
In their latest earnings reports, 63 regional banks estimated their dividends for the current business year will be at the same levels as in the previous year, while four banks projected higher dividends and 14 forecast lower payouts.
Meanwhile, 56 regional banks, or nearly 70 pct of those surveyed, are now bracing for falls in their annual group net profits.
Over the last five years, Japanese regional banks' combined net profits decreased about 30 pct, while their total dividends stayed at around 200 billion yen.
On top of the low-interest environment, the coronavirus epidemic is hitting regional banks' business partners and thus affecting their earnings.
[Copyright The Jiji Press, Ltd.]