S.Africa's Nedbank decides against dividend, reports 57% profit drop

  • Reuters
  • Stock Market News
S.Africa's Nedbank decides against dividend, reports 57% profit drop

JOHANNESBURG, March 17 (Reuters) - South African lender Nedbank NEDJ.J opted not to declare an annual dividend on Wednesday, confirming some investors' expectations it would disappoint where others had managed to return to payouts.

The bank also reported a 56.8% decline in headline earnings per share, the main profit measure in South Africa, in the year to Dec. 31, to 1,126 cents ($0.7565) - at the upper end of its forecast range and compared to 2,605 cents a year earlier. ($1=14.8846 rand )

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