Thai Central Chemical Public : bank agrees on cap for commercial banks' 2020 dividends payments

BANGKOK (Reuters) - The Bank of Thailand (BOT) on Thursday said commercial banks could pay dividends this year not greater than 50% of the year's net profits, and not more than last year's payout ratio, due to high uncertainty from the impacts of the coronavirus pandemic.

"The BOT supports preventive measures by allowing financial institutions to pay dividends for the year 2020 not exceeding last year's payout ratio and 50% of this year's net profits," central bank deputy governor, Ronadol Numnonda, said in a statement.

The measure was in line with guidelines from overseas regulators and would benefit financial institutions in the long run, he said.

(Reporting by Kitiphong Thaichareon; Writing by Chayut Setboonsarng; Editing by Martin Petty)