Nedbank’s share price lifted on Tuesday after it raised its final dividend on the back of strong earnings growth even though credit impairments spiked.
Gallo Images/Financial Mail/Russell Roberts
Nedbank’s share price lifted more than 4% at one point on Tuesday after it raised its final dividend almost a fifth on the back of strong earnings growth.
The bank reported an 11% rise in headline earnings to R15.7 billion in the year to end-December, underpinned by robust revenue growth and prudent expense management.
With the group’s return on equity (ROE) rising a percentage point to 15.1% for the year, the group upped its final dividend by 18% to R10.22 per share, taking the total to R18.93.
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