Skip to content

Newsletter to Shareholders re:Dividend

Document date:  Wed 07 Jul 1999
Published:  Wed 07 Jul 1999 00:00:00
Document No:  149894
Document part:  A
Market Flag:  N
Classification: 

HOMEX - Melbourne                                                     

+++++++++++++++++++++++++
Enclosed with this edition of 'Shareholder Contact' is your dividend
advice for the 1999 interim dividend. Directors were pleased to
increase the interim dividend by 8% from 24 cents to 26 cents per
share, franked at 75% (up from 60%).

This increase reflected the good performance of the Group over the
first half of the year. The Bank achieved profit growth
notwithstanding the loss of earnings from discontinued businesses and
the substantial reductions in selected assets in order to reduce
risks. Costs were down, bringing the cost to income ratio to 55.8%
and specific provisions were contained within the economic loss
provision. We are expecting an even stronger second half.

The Group has also built a strong capital base, with a Tier 1 capital
ratio at 7.7%. This provides us with the flexibility either to
advance our core businesses through acquisition, or to return capital
to shareholders. Our Year 2000 programme is on track and inside
budget, and testing with other financial institutions is well
advanced. With the announcement of the result, Mr McFarlane took the
opportunity to outline a more focused strategic direction for ANZ.
This is outlined on page 2, and I encourage shareholders to read it.
To help us with the implementation of this new direction, we have
appointed a number of talented new executives to our senior
management team. Details are also on page 2. Shareholders should note
that the ANZ Share registry is changing to Computershare and contact
details ire contained on page 4.

We are holding shareholder information meetings in Brisbane, Perth
and Adelaide in August and this year's Annual General Meeting will be
held in Sydney on 20 December.

We look forward to meeting as many of our shareholders as possible at
these meetings.


C Goode

MORE TO FOLLOW
                                                                                                                                                                                                                                                                                                                                                                                                                                               1