Absa doubles dividend as economy recovers but future is uncertain
Nevertheless, the bank says it has ‘an exceptional amount of capital’ on its balance sheet to withstand a potentially tougher economic climate
15 August 2022 - 08:27
UPDATED 08 August 2022 - 15:34
Absa has more than doubled its dividend payout for its fiscal first-half , joining industry peers in saying it has benefited from a better-than-expected performance from the economy in 2022 even as it warned of a more uncertain future.
SA’s fourth biggest lender by market value on Monday reported a 30% jump in headline earnings to R10.6bn for the six months to end-June, more than a quarter above 2019 levels. Absa also upped its interim dividend 110% year on year to 650c — making for a total shareholder payout of about R5.4bn...
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