Nedbank joins Absa in holding on to final dividend, but is upbeat about its prospects
The bank has cited the threat of a resurgence in Covid-19 and the need to support clients as reasons to not pay dividends
17 March 2021 - 08:32
UPDATED 17 March 2021 - 09:31
Nedbank, SA’s fourth biggest bank by assets, has joined peer Absa in not declaring an ordinary final dividend, with full-year profits more than halving as Covid-19 tore into profits and forced the bank to more than double impairments.
Like Absa, Nedbank said on Wednesday that it expects to pay an interim dividend for its 2021 year, saying that despite uncertainty, the outlook for both it and SA’s economy have improved...
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