Why did Aussie investors get a 9% dividend cut from CSL (ASX:CSL)?

CSL Limited (ASX: CSL) announced its FY21 half-year result to the market today. In the result was a 9% dividend cut for Aussie investors.

Why did CSL cut the dividend for Aussies?

To understand what happened, it’s important to note that CSL reports its result in US dollars. It also makes a lot of its revenue and profit in US currency too.

So, bearing that in mind, some investors may have been surprised to see that in Australian dollar currency terms, the interim dividend that CSL declared represented a 9% cut to approximately $1.34 per share.

However, in US dollar terms, the interim dividend was actually increased by the CSL board by 9% to US$1.09 per share. A year ago the Australian dollar with worth around US$0.67 and now…