Australia's Westpac underwrites dividend payout as cash earnings plunge

said on Monday it would resume paying dividends as it reported a 62% plunge in cash earnings due to write-downs, lower margins and a record fine over a money-laundering case.

Citigroup will underwrite a dividend reinvestment scheme, where the payment, 61% lower than in 2019, will be made in shares rather than cash, safeguarding its capital but diluting shareholders who do not participate in the scheme. The settlement ended a difficult chapter for Australia’s oldest bank, which has seen it lose about a third of its value since the lawsuit was announced in November last year.

Westpac Banking Corp reported a 62% plunge in cash earnings due to write downs , lower margins and a record fine over a money laundering case .

Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen

Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.

Australia's Westpac cuts annual dividend as cash earnings plummet 62%Westpac Banking Corp on Monday slashed its annual dividend and reported a 62% plunge in cash earnings due to write-downs and a record A$1.3 billion fine over a money-laundering case.
Herkunft: Reuters - 🏆 2. / 97 Weiterlesen »

Tech earnings took a dark turn this week with warnings about the coronavirus and election\nAmazon, Apple and Facebook gave dire warnings about the rise in Covid-19 cases and potential civil unrest following next week's presidential election. Hairy legs that only reason the Democrats doomed party voted Sleepy Biden Maybe this reality will start to get to investors lives. Who trust you?
Herkunft: CNBC - 🏆 12. / 72 Weiterlesen »