The Commonwealth Bank of Australia's (The Group's) statutory net profit after tax for the year ended 30 June 2010 was $5,664 million, which represents a 20 percent increase on the prior year. Cash net profit after tax for the year was $6,101 million, an increase of 42 percent.
Cash Return on Equity for the year ended 30 June 2010 was a healthy 18.7 percent, up 370 basis points due to increasing profitability and effective capital management.
The final dividend declared was $1.70 per share, an increase of 48 percent on the prior year. The total dividend for the year to 30 June 2010 was $2.90, taking the cash dividend payout ratio of 74 percent. The final dividend payment will be fully franked and will be paid on 1 October 2010.
Given the Group's high level of Tier 1 capital, the Directors have decided to remove the previous Dividend Reinvestment Plan discount of 1.5% percent and neutralise or minimise the dilutive effect of the Dividend Reinvestment Plan through an on-market share purchase and transfer to participants.
2010 Full year results - additional segmental disclosures
The Group's Net Profit After Tax ("NPAT") ("statutory basis") for the half year ended 31 December 2009 was $2,914 million, which represents an increase of 36 percent on the prior period. NPAT ("cash basis") for the half year was up 54 percent on the prior comparative period to $2,943 million.
The Board declared a fully franked interim dividend of $1.20 per share. The dividend is payable on 1 April 2010. The ex-dividend date is 15 February 2010. A 1.5 percent discount will apply to the Dividend Reinvestment Plan.
The increase in the interim dividend of seven cents to $1.20 takes the payout ratio for the interim dividend to 63 percent which is consistent with pre Global Financial Crisis interim payout ratios.
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