Singapore banks’ shares surge after MAS lifts dividend cap; higher payouts expected

SINGAPORE – Shares of Singapore’s three listed banks rose strongly on Thursday morning (July 29) after the Monetary Authority of Singapore (MAS) lifted dividend payout restrictions.

At the midday break, DBS Bank was up 17 cents, or 0.6 per cent, to $30.24; UOB gained 19 cents, or 0.7 per cent, to $26.11; while OCBC Bank jumped 14 cents, or 1.2 per cent, to $12.21.

The trio were the top three most heavily traded stocks in terms of value.

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