Business
ANZ Bank full-year profit plunges 42 per cent to $3.76b – The Australian Financial Review
ANZ has made a credit impairment charge of $2.7b to protect against coronavirus losses.
Its strong balance sheet has allowed ANZ to distribute some profits to shareholders: it will pay a final dividend of 35¢ per share, fully franked with no discount for its dividend reinvestment program, after it paid a 25¢ interim dividend in May.
Analysts had been expecting a slightly higher payout before the bank announced additional write-downs earlier this week, with APRA’s edict to limit dividends to no more than 50 per cent of profits still in place.
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