Westpac's Net Profit Up 9% in Fiscal H2; Buyback Scheme, Dividend Raised

MT Newswires Live11-04 06:34

Westpac Banking (NZE:WBC, ASX:WBC) reported earnings of AU$1.025 per share for the second half ended Sept. 30, an increase from AU$0.916 per share in the first half, according to a Monday filing with the Australian and New Zealand bourses.

Analysts polled by Visible Alpha expected EPS of AU$0.908.

Attributable net profit rose 9% to AU$3.65 billion from AU$3.34 billion. The consensus estimate compiled by Visible Alpha was for an attributable net profit of AU$3.49 billion.

Net operating income expressed as the sum of net interest income and non-interest income was AU$11 billion, up 4% from AU$10.59 billion in the half year to March. Analysts surveyed by Visible Alpha expected a net interest income of AU$9.48 billion and a non-interest income of AU$1.47 billion.

In announcing its full-year results, Westpac said it will increase its share buyback program by AU$1 billion.

The banking giant declared a dividend of AU$0.76 per share, representing a 6% increase. The dividend is payable on Dec. 19 to shareholders on record as of Nov. 8.

Price (AUD): $35.10, Change: $+0.18, Percent Change: +0.52%

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