Wealth management group AMP is increasing its dividend payout after lifting profit by 33% to $507 million for the half year to the end of June.
The result, within analyst expectations, was driven by strong growth in all its businesses. Underlying profit was up 12% to $570 million compared.
The company declared a 12% increase to the interim dividend to 14 cents a share. This is a payout ratio of 73% of underlying profit.
CEO Craig Meller says the performance reflects a strong contribution from the core Australian business.
“It is also particularly encouraging to see strong progress from our partnership in China,” says Meller.
Here are the results in detail: