Bank of Ireland casts doubt on dividend’s timing

Bank of Ireland has raised a question mark over the timing of paying out its first dividend since the financial crisis, blaming the fallout of the Brexit vote on sterling and lower bond yields for the decision.

Earlier this year the bank had expressed a high degree of confidence it would restart paying dividends based on as much as 50% of 2016 earnings and to make the maiden payout in the first half of next year.

Since then, the Brexit vote has hit sterling and its bond yields.