Westpac reported cash earnings of A$2.61 billion for the year ended Sept. 30,62% lower than a year ago, hurt by A$3.18 billion ($2.23 billion) in impairment charges because of the economic impact of the COVID-19 pandemic.
SYDNEY: Westpac Banking Corp said on Monday it would resume paying dividends, as it reported a 62% plunge in cash earnings due to write-downs, lower margins and a record fine over a money-laundering case.
The country's second-largest lender, which was the only one of the Big Four lenders that dominate the Australian system to stop shareholder payouts in the first half, said it would pay investors the maximum dividend allowed by the regulator.
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