Macquarie Group raises dividend

Company News

by Rachael Jones

Macquarie Group (ASX:MQG) today reported a 17 per cent rise in net profit after tax of $2.99 billion for the full year ended 31 March 2019.

This was above guidance of 15 per cent in the year ended March 31, over financial year 2018.

Head of Macquarie’s global investment bank Tim Bishop will step down from the role at the month’s end to become chairman of the division.

Daniel Wong and Michael Silverton will replace him in a joint role. 

They will pay a final dividend of $3.60, up from $3.20 a share last year.

Macquarie Group (ASX:MQG) shares closed 0.65 per cent higher at $136.20 

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.