FirstRand lifts interim dividend as return on equity hits 21.8%
CEO Alan Pullinger says results are proof of size and quality of group’s transactional and deposit franchises
02 March 2023 - 10:53
UPDATED 02 March 2023 - 18:27
FirstRand, the financial services group that owns FNB, WesBank and Rand Merchant Bank (RMB), raised its interim dividend thanks to strong half-year profit growth driven by new business wins across its lending units and higher deposits.
Normalised earnings attributable to ordinary shareholders rose 15% to R18.05bn in the six months to end-December 2022, up from R15.74bn the previous year, FirstRand said on Thursday. That enabled the group to declare an ordinary dividend of 189c for the period, 20% higher than the 157c payout for the previous matching period...
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