The billions of dollars flowing to the Commonwealth Bank in the six months to the end of December totaled $11.727 billion, a rise of 5%.
From that, Australia’s largest home mortgage lender produced a cash profit of $4.623 billion, a rise of 8%.
Here’s where the billions were spent over those six months.
The big winners were the shareholders.
The Board of Directors at the Commonwealth have a target of paying out between 70% and 80% of cash net profit.
For the latest six months, the board declared an interim dividend of $1.98 per share, a rise of
This means that $3.21 billion or 69.8% of cash profit will be paid to shareholders.
The Commonwealth’s tax bill means it’s Australia’s third largest taxpayer, paying about 4% of all company tax revenue to the Federal Government.