Australian banks lose ’boring’ tag with big shareholder payouts

Australian banks, for years among the most staid investments in Asia, aren’t boring any more.

The country’s big lenders are handing out stellar dividends to happy shareholders as they post record profits, attracting high-yield hunters from around the globe.

As valuations have surged, the banks have overtaken miners as the power behind Australia’s upwardly mobile stock exchange, creating what some say is a share price bubble that may swell even further before it bursts.

via Business feed http://www.scmp.com/business/banking-finance/article/1229176/australian-banks-lose-boring-tag-big-shareholder-payouts