Nedbank rallies on robust earnings guidance
Banking group’s strong capital levels make for dividend range of 1.75-2.25 times cover
06 December 2022 - 09:11
UPDATED 06 December 2022 - 18:45
Nedbank’s share price outperformed its rivals and the JSE all share index after it said its financial performance in the first 10 months of 2022 had been robust as higher interest rates boosted earnings from credit extension.
The Johannesburg lender’s share price rose 2.77% to R219 on Tuesday after it also flagged healthy capital levels that should support continued dividend payments. In comparison, the banking index added 1.08% while the Alsi fell 0.18%...
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