ANZ posts $1.33b profit for 3Q20

19 August 2020
| By Jassmyn |
image
image
expand image

ANZ has posted a statutory profit after tax of $1.33 billion for the third quarter to 30 June, 2020, and the board has proposed an interim dividend of 25 cents per share, fully franked.

In an announcement to the Australian Securities Exchange (ASX), ANZ also posted a cash profit from continuing operations of $1.498 billion.

While ANZ deferred the interim dividend in April, the proposed dividend would be paid to shareholders on 30 September, 2020, and New Zealand imputation credits of NZ$3 cents per ordinary share would also be attached.

ANZ said the interim dividend represented 46% of ANZ’s 1H20 statutory profit, or 30% of 1H20 statutory profit adjusted for the impairment of Asian associates at 31 March, which reduced statutory profit but did not impact capital as the investments were full capital deductions.

ANZ chair, David Gonski, said: “We’ve been able to build on our strong capital position this quarter and this has enabled us to pay a dividend that balances the needs of our shareholders with the uncertain economic environment.

“We agree with APRA’s [Australian Prudential Regulation Authority’s] view that all ADIs should be prudent in considering dividends.”

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

GG

So shareholders lose a dividend plus have seen the erosion of value. Qantas decides to clawback remuneration from Alan ...

2 months 1 week ago
Denise Baker

This is why I left my last position. There was no interest in giving the client quality time, it was all about bumping ...

2 months 1 week ago
gonski

So the Hayne Royal Commission has left us with this. What a sad day for the financial planning industry. Clearly most ...

2 months 1 week ago

A Sydney-based financial adviser has been banned from providing financial services in the interest of consumer protection after failing to act on conduct concerns. ...

3 weeks 3 days ago

ASIC has cancelled the AFSL of a $250 million Sydney fund manager, one of two AFSL cancellations announced by the corporate regulator....

3 weeks 1 day ago

Having divested its advice business in August, AMP is undergoing restructuring in at least four other departments amid a cost simplification program....

2 weeks 5 days ago