Are banks running out of dividend steam?

Bank dividend yields are stretched to the limit, with CBA under most strain while Westpac is in the best position for the year ahead.

PORTFOLIO POINT: Shareholders of the major banks have had a great dividend ride. But analysts believe lower operating margins and cash flows make their dividend yields unsustainable.

Santa Claus arrived early for investors this year in the form of the slightly less hirsute Glenn Stevens.

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