Central Huijin Investment Ltd., the state-backed shareholder in China’s biggest banks, said the lenders will lower their dividend payouts to shore up capital.
Dividends will be cut by 5 percentage points to 35 percent of 2011 profit at Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. and Bank of China Ltd., Central Huijin said in a statement yesterday on its website. The ratio for Agricultural Bank of China Ltd. will be unchanged at 35 percent, according to the statement.
