Business
Westpac holds dividend from shareholders to preserve capital – NEWS.com.au
Westpac holds dividend from shareholders to preserve capital during coronavirus pandemic
Westpac has refrained from issuing an interim dividend to its shareholders, warning ongoing uncertainty induced by the coronavirus pandemic continues to plague Australias banking industry. The country’s second-largest bank has posted an unaudited net profit of $1.12 billion for the third quarter of 2020, higher than the 2020 quarterly average of $595 million.
Quarterly cash earnings were $1.32 billion, which was also higher than the average for the previous two quarters.
Westpac said the rise …
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