No final dividend payout from MyState (ASX:MYS)

Company News

by Rachael Jones

Tasmania-based financial group MyState (ASX:MYS) recorded statutory net profit after tax of $30 million compared with $31 million in the previous year.

The result was after an impairment charge of $4.9 million, principally related to Covid-19 loan provisions.

Core earnings as measured by net operating profit before impairment and tax increased 12.9 per cent to $47.9 million.

The improved core earnings result reflects in part the tailwind of reduced funding costs.

A decision has been made to not pay a final dividend.

Shares in MyState (ASX:MYS) are trading 1.3 per cent higher at $3.80.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.