General, page-13

Everyone's financial circumstances differ. If an investor is working, receiving a good income then they are in a position to ride out the dips and even add to their portfolio. If I recall BOQ is the only Oz bank to make a loss which was a few years back now. Dividends go up and down just like the share price. Research how much bank dividends dived during the GFC.

Self funded retirees, pensioners and people on low incomes who hold shares are wary of declining asset prices as they do not as a rule have the ability to replace lost capital. Also due to their ages this group haven't got 13 years or whatever to hang around hoping the share price rebounds. Again I quote TLS as a classic example of a wealth destruction stock with declining dividends.

I agree the Oz Banks look cheap but they are cheap for a reason. Look at the huge hit the Oz states have had to their stamp duty receipts due to the decline in real estate sales. The Banks bread and butter comes from residential / commercial lending so it stands to reason if lending is down and if unemployment rises - bad debts will increase & banks profits and dividends will fall. Stock markets are forward looking beasts, about 6 to 9 months that's why I think mid 2019 when some of the uncertainty has been dealt with and the Banks have gone ex dividend then it may be OK to put your toe in the water. Watch and wait. Shorten might be the biggest fly in the ointment. My previous disclosures apply up the page a bit. DYOR