AMP slashes dividend to 4 cents

Company News

by Rachael Jones

AMP (ASX:AMP) has provided an update ahead of its FY18 results showing estimated underlying profit to be around $680 million, down on the same corresponding period last year.

They have slashed their dividend from 14.5 cents in 2017 to 4 cents this year.

The wealth manager lost its chief executive and chairman last year following the royal commission for issues including unsavory practices and they are still paying the consequences.

AMP will announce their finanalised FY18 results on 14 February 2019.

Shares in AMP (ASX:AMP) are trading 5.12 per cent lower at $2.41.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.