April 27 (Reuters) - National Australia Bank Ltd (NAB) on Monday said it plans to raise up to A$3.5 billion and increase provisions to more than A$2 billion to guard against a hit from the coronavirus pandemic, and slashed its interim dividend by 64% to save cash.
Australia's third-largest lender, which paid a dividend of 30 cents per share, also reported that its first-half cash earnings slumped 51.4% to A$1.44 billion ($919.73 million).
NAB had warned earlier this month that profit would be hurt by charges related to provisions it made last year after self-reporting anti-money laundering shortcomings and as a regulator accused it of charging customers "fees for no service".
($1 = 1.5657 Australian dollars)
News: NAB National Australia Bank cuts dividend, to raise cash amid pandemic
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Last
$41.86 |
Change
0.150(0.36%) |
Mkt cap ! $128.5B | |||
| Open | High | Low | Value | Volume |
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| NAB (ASX) Chart |