Westpac FY Profit Down; Expands Share Buyback Program By A$1 Bln

(RTTNews) - Australia's Westpac Banking Corp. (WBC.AX, WBK) reported that its net profit attributable to owners of the company for fiscal year 2024 declined to A$6.99 billion from A$7.20 billion in the prior year.

Net interest income for the year was A$18.75 billion up from A$18.32 billion in the prior year. But annual non-interest income declined to A$2.84 billion from A$3.33 billion in the previous year.

The company announced an increase of A$1 billion to its share buyback program. In addition, fully franked ordinary dividends increased by 6% this year with a final dividend of 76 cents per share. Total ordinary dividends for the year were 151 cents per share, towards the upper end of its payout range.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.