Commonwealth Bank of Australia (ASX:CBA) has delivered a record cash profit broadly in line with expectations and lifted its final dividend more than expected.
Australia’s biggest bank has reported the largest ever bank profit in the country, increasing 12 per cent from last year to $8.68 billion.
The bank’s net profit includes one-off financial items and rose 13 per cent to $8.63 billion while revenue dipped 1 per cent to $44.3 billion.
CEO Ian Narev has shared a cautiously positive outlook for the current financial year and says levels of underlying activity confirm the strong foundations of the Australian economy.
A fully franked final dividend of $2.18 per share has been declared, taking the full year payout to $4.01 which is 10 per cent higher from the year before.
Shares in Commonwealth Bank closed at $81.69 ahead of today’s announcement and hit a record high last month.
