ANZ was thefirst big four bank to suspend dividend payments one year ago,after the prudential regulator urged caution while the country braced for the economic impact of the pandemic.
Credit Suisse had predicted the bank would pay an interim dividend of 60¢.
Westpac earlier this week reinstated its dividend after it posted a sharp rebound in profits.
ANZ chief executive Shayne Elliott said the bank was able to restart dividend payments due to its strong capital position.“The last thing we want to do is dilute shareholders or cancel dividends unnecessarily,” Mr Elliott said. “That’s why the sustainable payout ratio is really important.”
ANZ’s profits were boosted by the $491 million reduction in the provision for bad loans,a stark contrast from the same period last year when this provision was increased by $1.7 billion. ANZ’s total reserve for bad loans remains at $4.3 billion in the event economic conditions deteriorate.
Mr Elliott said while the economy was showing signs of improvement,supported by government policy,he cautioned against complacency and warned of “fresh obstacles” ahead.