I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!

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Wednesday 29 July 2020

Local banks should cap FY2020 dividends, offer shareholders alternatives to conserve capital: MAS


Read? Local banks should cap FY2020 dividends, offer shareholders alternatives to conserve capital: MAS

 The central bank in its release called on locally-incorporated banks headquartered in Singapore to cap their total dividends per share (DPS) for FY2020 at 60 per cent of FY2019’s DPS, which it said balances the objective of capital conservation with the interests of shareholders.

 "We have carefully calibrated the restriction on dividends, taking into account the needs of investors who may rely on this income.”

 Retirees kena f... by MAS! Cham liao!



Posted by Createwealth8888 at 19:53
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10 comments:

  1. mysecretinvestment29 July 2020 at 20:25:00 GMT+8

    Ouch again!

    At start of 2020, dividend target was $80,000 (This was after achieving $78.8K in 2019)

    Then in mid - 2020, target reduced to $60,000.

    Now after this latest MAS guidelines, target reduced yet again to $50,000

    Dividend collected from Jan to Jul 20 : $38,300

    Even the $50,000 target is looking like a stretch.

    ReplyDelete
  2. CreateWealth888829 July 2020 at 20:38:00 GMT+8

    Hard time for some retirees who may not be able to re calibrate their cash flow for few next years.

    Potential FI seekers want to like to review their income for life strategies.

    ReplyDelete
  3. Spur29 July 2020 at 22:16:00 GMT+8

    At least not like in UK or EU, where both govts & central banks are telling their banks to give zero dividend, lol.

    2020 is basically washed out. For those with holding power > 3 years, these few months will be a period to buy stocks on pullbacks.

    ReplyDelete
  4. Unintelligent Nerd30 July 2020 at 08:30:00 GMT+8

    Hihi Uncle CW,

    Come, I jio you to Ethereum savings account. Interest rate varies between 0.01% to 1500% per annum! Kekeke

    ReplyDelete
  5. Singapore Man of Leisure30 July 2020 at 10:28:00 GMT+8

    Hell hath no fury like a yield hog scorned...

    Morning open was a minor dip for the banks (as expected) until 10:20 am when someone dumped the bank stocks big time!

    Oh well... Missed the trade.

    Back to walk here, walk there I guess ;)

    ReplyDelete
  6. mysecretinvestment30 July 2020 at 14:11:00 GMT+8

    Ouch, double ouch.

    Dividend cut, portfolio value decimated. What next? When will the pain end? No more panadol.

    Hope CPF interest rates can be sustained. Last line of "defense".

    ReplyDelete
  7. Spur30 July 2020 at 17:35:00 GMT+8

    Oh I just got reply from CPF ... Even if RA already have FRS or more, one can still do cash refund to CPF for housing withdrawals + accrued interest. It will go into OA.

    Hmmm, sounds different from what Uncle8888 got in reply.

    Btw, MAS didn't mention about buybacks? Banks can still do a ton of buybacks to boost stock prices. ;)

    Guess maybe not so prevalent in S'pore as compared to overseas where buybacks are more tax efficient then dividends e.g. in US, dividend payouts are subjected to either income tax (for locals) or withholding tax (for foreigners).

    ReplyDelete
    Replies
    1. Createwealth888830 July 2020 at 18:00:00 GMT+8

      You can refund your housing loan before 55 to CPF OA. Do it before celebrating your 55th birthday! LOL!

      Delete
    2. Spur30 July 2020 at 19:10:00 GMT+8

      Heheh I asked them about after 55 scenario, with RA already created. They say still can?!? Think they should create black & white FAQ on this so that everybody can talk the same language. Lol!

      Delete
    3. Createwealth888830 July 2020 at 19:28:00 GMT+8

      LOL! Need to ask their Director. Why different answers given by CSOs?

      Delete

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