Macquarie analysts said "we suspect banks are likely to choose to suspend their dividends and look to reinstate it (and possibly pay a special dividend) if conditions normalise." The analysts said Commonwealth Bank, which reports on a different financial calendar and has been boosting its capital with asset sales, was in a stronger position and could maintain a reduced dividend. Morgans analyst Azib Khan said his "base case" was for Commonwealth Bank, ANZ, NAB and Westpac to suspend their next dividends. ANZ shares dropped 4.9 per cent to $15.52, NAB shares fell 4.8 per cent to $15.35, Westpac lost 5.3 per cent to $15.25, and CBA dropped 3.3 per cent to $59.81.