Business
AMP to return $544m to shareholders – The Australian Financial Review
The troubled wealth giant has thrown long-suffering shareholders a bone – a 10¢ dividend and an on-market share buyback program – as it confirms a plunge in profit.
The announcement on Thursday comes as AMP is in the midst of a crisis involving sexual harassment allegations against senior executives on top of the lingering critiques of the Hayne royal commission.
AMP confirmed that underlying profit for the first half of the calendar year was $149 million, down 40 per cent on the first half of 2019 or 52 per cent if the contribution of the recently offloaded life insurance business is counted.
In July it told the market to expect underlying profit for the…
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