ANZ has decided to pay its shareholders an interim dividend despite warning challenges remain within the banking industry due to the coronavirus pandemic. In an update to the Australian Stock Exchange, the major bank posted an unaudited cash profit of $1.5 billion for the June quarter. The bank’s statutory profit was $1.33 billion. ANZ’s decision to issue an interim dividend of 25 cents per share comes after Westpac on Tuesday announced it would not provide shareholders with a dividend, saying the economic outlook remains too uncertain due to COVID-19. ANZ’s dividend represents 46 percent of its statutory profit.
Forced lockdowns of Crown’s Melbourne and Perth casinos during the coronavirus pandemic dented it financial result. The James Packer-backed gaming group posted a net profit of $79.5 million for the 12 months ending June 30, an 80.2 percent tumble on its 2019 financial year result. Crown’s reported earnings were down 40.6 percent to $504.6 million, with the main floor and VIP gaming both taking substantial revenue hits. The major casino said ongoing uncertainty surrounding the reopening of its Melbourne operations had forced it to not issue a final dividend. Crown’s dividend policy is to pay 60 cents per share on a full-year basis subject to its financial position.
Michael Hill says store closures during the height of the coronavirus lockdown period have severely ruptured its sales and profits for the 2020 financial year. The Queensland-based company posted a statutory profit of $3.1 million for the 12 months ending June 30, an 81.5 percent slump from its 2019 financial year result of $16.5 million.
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