ANZ Banking Group’s (ASX:ANZ) has hiked its interim dividend and announced a first half profit beating analyst expectations.
The bank’s cash earnings climbed 11 per cent to $3.5 billion in six months to the end of March, against expectations for a $3.4 billion result.
ANZ has also increased its dividend to 83 cents per share, exceeding expectations of 80 cents per share and lifting 14 per cent from the year before.
CEO Mike Smith says the company’s international business is firing on all cylinders with revenue and profits again growing strongly and a sustained improvement in returns.
ANZ has affirmed it remains on track to generate 25 to 30 per cent of its profit from the Asia Pacific region by 2017.
Shares in ANZ have risen 7 per cent this year and closed at $34.47 ahead of the announcement.
