| FirstRand releases half-year results today and shareholders will be keen to see whether it pays an interim dividend after the Reserve Bank's Prudential Authority relaxed its guidance last month, saying banks could resume distributions as long as they remained prudent with their capital. Sasfin has already chosen to err on the side of caution due to its exposure to small businesses that have been affected by Covid-19 lockdown. Standard Bank has warned shareholders that headline earnings could halve due to the impact of the pandemic on its operations. Last November, it said it would decide on a final dividend for 2020 this month. For more on the prospects for SA's banks and the challenge they face due to rising impairments, Ingham Analytics' latest Banking Monitor, "Budget blues" is a must-read. Meanwhile, African Rainbow Minerals has doubled its dividend after a strong start to its financial year thanks to higher platinum group metal and iron ore prices. More on these stories to follow, along with interim results from Murray and Roberts and finals from black-empowered investment group Brimstone. I hope you have a good day. Stephen Gunnion Managing Editor, InceConnect
The latest from Ingham Analytics If you've been watching government bond yields, from the US to Europe to Japan, and wondered what's going on, then look no further for incisive analysis than "Now what do they want?" by internationally respected risk analyst Andrew Kinsey. What we're seeing has consequences - for you. Talking of consequences, South African banks are facing record levels of impairments as "Budget blues" unpacks, and with sovereign risk elevated so are they. Is a future return of dividend payments a reason to buy banks stocks or not? | 