Bank of Queensland Limited (ASX:BOQ) has generated a record cash profit, even beating its own expectations, for the 2014 financial year.
The Brisbane based regional lender increased cash earnings by 20 per cent to $301.2 million as its statutory profit jumped 40 per cent to $260.5 million.
Acting CEO John Sutton says the bank expects sustainable growth in earnings and dividends as it realises the benefits of its four pillar strategy.
Looking ahead the company’s key priority will be to drive profitable growth across all business lines while maintaining a disciplined approach to business fundamentals.
A final fully-franked dividend of 34 cents per share has been declared, taking the full year payout to 66 cents per share.
