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July 29, 2021 published at 1:37 AMReuters A view of the Monetary Authority of Singapore s headquarters in Singapore, on June 28, 2017. Reuters SINGAPORE - The Monetary Authority of Singapore (MAS) said on Wednesday (July 28) it was removing caps on dividends paid by locally incorporated banks and finance companies, which were introduced amid an uncertain economic outlook earlier in the Covid-19 pandemic. Last year, the central bank had urged them to cap their total dividends per share for the fiscal year 2020 at 60 per cent of the previous year s level. The central bank cited the improving global economic outlook for not extending the restrictions. Local banks and finance companies have weathered the pandemic well and are in a strong position to support the economic recovery, Ho Hern Shin, deputy managing director at the MAS, said.

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