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CBA Assess Dividend Flow Backdrop

AUD

CBA estimate “at least $A36bn of dividends will be paid in this earnings season. Almost $A21bn or 57% of the dividend payments will be concentrated in the week ending 1 April.”

  • There are two key assumptions that underpin these estimates:
  • “Foreigners own about one third of listed company capital in Australia, while local shareholders own the other two thirds.”
  • “Foreign and local shareholders convert all of their dividends into their respective local currencies.“
  • They estimate “approximately $A13.1bn of AUD will be bought to pay dividends to Australian shareholders in this earnings season, approximately $A5.5bn of AUD will be sold to pay dividends to foreign shareholders in this earnings season. This results in net AUD buying of approximately $A7.7bn.”
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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