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Banks

UPDATE 1-Sumitomo Mitsui Trust plans 30 pct payout ratio -Nikkei

Jan 13 (Reuters) - Sumitomo Mitsui Trust Holdings Inc, to be created in April by merging Chuo Mitsui Trust Holdings Inc 8309.T and Sumitomo Trust & Banking Co 8403.T, is considering a dividend payout ratio of 30 percent, the Nikkei business daily reported.

The planned payout ratio is higher than the 26.5 percent and 25 percent distributions projected for Chuo Mitsui and Sumitomo Trust in the year ending March 31, the daily said. (Reporting by NR Sethuraman in Bangalore)

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