No final dividend payout from MyState (ASX:MYS)

Company News

by Rachael Jones

Tasmania-based financial group MyState (ASX:MYS) recorded statutory net profit after tax of $30 million compared with $31 million in the previous year.

The result was after an impairment charge of $4.9 million, principally related to Covid-19 loan provisions.

Core earnings as measured by net operating profit before impairment and tax increased 12.9 per cent to $47.9 million.

The improved core earnings result reflects in part the tailwind of reduced funding costs.

A decision has been made to not pay a final dividend.

Shares in MyState (ASX:MYS) are trading 1.3 per cent higher at $3.80.