Absa Bank interim results June 2019
Total income for the year grew to R26.1 billion (R25.4 billion) whilst operating profit before income tax was higher at R6.2 billion (R5.8 billion). Profit attributable to equity holders increased to R4.2 billion (R4.0 billion). In addition, headline earnings per ordinary share strengthened to 953.6 cents per share( 927.7 cents per share).
Declaration of interim preference share dividend number 27
Absa Bank non-cumulative, non-redeemable preference shares (Absa Bank preference shares)
The Absa Bank preference shares have an effective coupon rate of 70% of Absa Bank's prevailing prime overdraft lending rate (prime rate).Absa Bank's current prime rate is 10.00%.
Notice is hereby given that preference dividend number 27, equal to 70% of the average prime rate for 1 March 2019 to 31 August 2019, on the assumption that there are no further changes in the prime rate between the declaration date and 31 August 2019,per Absa Bank preference share has been declared for the period 1 March 2019 to 31 August 2019. The dividend is payable on Monday,16 September 2019, to shareholders of the Absa Bank preference shares recorded in the Register of Members of the Company at the close of business on Friday, 13 September 2019.
The directors of Absa Bank confirm that the Bank will satisfy the solvency and liquidity test immediately after completion of the dividend distribution.
Based on the average prime rate, the interim preference dividend payable for the period 1 March 2019 to 31 August 2019 would indicatively be 3595.89 cents per Absa Bank preference share, subject to any further change in the prime rate.