Finding investment income now that bank dividends are drying up

WASHINGTON: The worst year for stock dividends in over a decade is upending formerly rock-solid retirement plans all across Asia.

Nearly a third (28%) of Asia Pacific companies – including marquee names like HSBC Holdings Plc, Westpac Banking Corp and Nissan Motor Co – have scrapped or reduced dividends this year as the coronavirus pandemic forced them to conserve cash. That’s considerably greater than the 13% in the United States, though still behind the 50% in Europe, according to data compiled by Bloomberg.