Business
Westpac scraps first-half dividend due to uncertain outlook – Sydney Morning Herald
Westpac will not pay shareholders a first-half dividend due to the uncertain economic environment, the bank said as it reported third quarter profits of $1.32 billion.
Chief executive Peter King said COVID-19 was clearly affecting the business, pointing to lower profit margins, weaker activity, and loans that have been deferred by customers.
Westpacs priority has been to remain strong so we can continue supporting customers through this challenging period,” Mr King said.
We have maintained our strong balance sheet and increased provisions for bad debts to support our prudent approach to managing impairments.”
The decision not to pay a dividend stands in con…
-
General24 hours ago‘I love Australian people’: Iran ambassador speaks out
-
Noosa News24 hours agoMan avoids jail for assaulting Brisbane bus driver, appears from custody on unrelated charges
-
Noosa News11 hours agoBrisbane nation’s third-youngest capital; Leaders condemn anti-immigration rally
-
Noosa News19 hours agoQld nurses poised to strike deal with Crisafulli government