Westpac (ASX:WBC) declare no first-half dividend

Company News

by Rachael Jones

Westpac (ASX:WBC) report unaudited statutory net profit for 3Q20 was $1.12 billion.

Quarterly average of 1H20 statutory net profit was $595 million.

Unaudited cash earnings rose to $1.32 billion for the three months ended June 30, compared to a quarterly average in the first-half of $497 million, due to lower impairment charges.

They report an impairment charge of $826 million, further increasing provisions and provisioning cover.

The board has decided not to pay a first-half dividend.

Westpac will next consider dividends as part of finalising its Full Year 2020 results.

Shares in Westpac (ASX:WBC) are trading 3.47 per cent lower at $16.98.