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In a surprise announcement, the Monetary Authority Singapore (MAS), Singapore’s central bank, has called on the local banks to cap their dividend payments for this year. MAS’ recommendation is for banks to pay out a maximum of 60% of the total dividend per share paid out in the fiscal year 2019. At the same time, banks were urged to offer shareholders the option of scrip dividends to conserve even more cash. MAS’ move comes as a pre-emptive measure to bolster the banks’ reserves and enable them to be in a better position to support lending to businesses and individuals who have been adversely impacted by the pandemic. The move is done in the name of prudence, as COVID-19 continues to infect numerous people around the globe with no signs of slowing down. As such, the central bank is encouraging banks to carefully manage their capital in case a more adverse scenario emerges....