Please try again. National Australia Bank Ltd on Monday said it plans to raise up to A$3.5 billion and increase provisions to more than A$2 billion to guard against a hit from the coronavirus pandemic, and slashed its interim dividend by 64% to save cash.Australia's third-largest lender, which paid a dividend of 30 cents per share, also reported that its first-half cash earnings slumped 51.4% to A$1.44 billion ($919.73 million).
Our daily reporting, in your inbox.Follow the topics, people and companies that matter to you.Investors who believe Tesla's near four-fold share price increase this year is on thin ice are having their faith retested.History shows that the vast majority of new traders will lose money, as it is fuelling speculation and discouraging companies from splitting their stock.The Persian Gulf state becomes the third Arab country to open diplomatic relations with the Jewish nation.Superannuation, China v US, virus elimination, Virgin.Faced with a formidable task in turning around its wealth management and banking businesses, AMP has pinned its hopes of corporate resurrection on AMP Capital.Chevron has kicked off the sale of its one-sixth stake in Australia's largest producing oil and gas project, the North West Shelf, with an eight-point pitch to potential buyers. )+[a-z]{2,})$/i, failureMessage: "A valid email address is required"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom11 = document.querySelector('#form1783 #field11');var field11 = new LiveValidation(dom11, {validMessage: "", onlyOnBlur: false, wait: 300});field11.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? It will impact bank earnings (and the ability to pay dividends) in three ways. With NAB in a trading halt, NAB has added a new, $807 million collective provision due to COVID-19, bringing the total collective provision balance to $4.4 billion. KKR's next potential investment could be about to land on deck. Even with this cut (and assuming the same 86 cents per share in the full-year dividend), NAB’s yield will still be around 9%, which still beats the pants off most other dividend-paying blue-chips. Picture: AAP Image/Joel CarrettChief executive Ross McEwan said on Monday the bank was taking proactive steps to shore up its balance sheet as the nation faces a possible “prolonged and severe economic downturn”.“There is much uncertainty as to how long this period of dislocation will last and the outlook for recovery,” Mr McEwan said.“Necessary interventions to contain the spread of COVID-19 are having wide-ranging impacts across the Australian and New Zealand economies, with sectors such as airlines, retail trade, hospitality and commercial real estate severely impacted.“Our expectations are for a recession and much higher unemployment over 2020 and into 2021.”Prudential regulator APRA this month advised the banks to suspend their dividend payments until there was more certainty around the economic landscape.Mr McEwan said the decision to pay a dividend was a balancing act that recognised the bank’s retail shareholders.“I can tell you retail shareholders will not be happy with a dividend reduction, but we believe we have done the right thing,” Mr McEwan said.
Markets National Australia Bank Ltd on Monday said it plans to raise up to A$3.5 billion and increase provisions to more than A$2 billion to guard against a … NAB’s 2020 Interim Dividend was 30 cents per ordinary share, franked to 100% at the company tax rate of 30%, payable on 3 July 2020. NAB had warned earlier this month that profit would be hurt by charges related to provisions it made last year after self-reporting anti-money laundering shortcomings and as a regulator accused it of charging customers "fees for no service". National Australia Bank cuts dividend, to raise cash amid pandemic Nio (NIO) 2nd Quarter Earnings: What to Expect The well-capitalised Commonwealth bank doesn’t balance to June 30 and will reveal its results in early August.
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