Hedge fund tycoon wants bank bosses to defend dividends

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Hedge fund tycoon Jeremy Hosking calls on bank bosses to defend dividends after payouts were suspended in March

By Emma Dunkley, Financial Mail On Sunday

Published: | Updated:

Hedge fund tycoon Jeremy Hosking has called on bank bosses to defend dividends after payouts were suspended in March. 

‘We need to hear much more from bank directors about their active resistance to the no-dividend policy,’ he said. 

Resistance: The Bank of England told banks to ditch dividends to shore up capital buffers as the economy came under pressure from Covid-19

The Bank of England told banks to ditch dividends to shore up capital buffers as the economy came under pressure from Covid-19. 

It is expected to make a decision next month on whether British banks can reinstate dividends. 

Hosking, a Conservative Party donor who has a fortune estimated at £385million and is a shareholder in Crystal Palace football club, also said banks should not be used by the Government as ‘a vehicle’ to dish out risky emergency loans that could leave them exposed to big losses.

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