Commonwealth Bank lifted its dividend payout ratio to 75 per cent in the 2012 full year and resolved that it would pay more of the dividend following the half year profit in future.The bank may also buy back shares in future to offset the effect of its dividend reinvestment program (though it will not do so for the final dividend payable in October).David Craig, the bank's chief financial officer, told an investor briefing yesterday that "our shareholders say, not surprisingly, they like a strong, stable dividend. They want to see we're paying out franking credits as much as we can.""The board has confirmed that our target payout ratio is between 70 per cent and 80 per cent."We're also conscious that our interim dividend has, historically, been quite low and our final dividend quite high, so to give more of that stability we're flagging that in future we'll be paying around 70 per cent of our interim profits out as interim dividends. CBA also provided an outline of its capital management plans in the context of the raft of regulatory reforms that will lift target capital ratios for all banks. Several of these are still not finalised, such as additional charges for operational risk and a further (potential) charges for large domestic banks.The bank said the board set a target for "common equity tier one" capital of more than nine per cent from the beginning of 2013.  At June 2012, the CET1 ratio for CBA was 9.8 per cent.The bank, drawing mainly on research by Morgan Stanley, estimates the average for global banks to be 8.4 per cent.CBA is likely to announce plans to sell around A$1.5 billion in hybrid securities next week, at least according to Mergermarket, which asked for confirmation at yesterday's media briefing (not that the bank did so).