Bank of Queensland Drops Dividend Bomb on Shareholders

Bank of Queensland’s first-half earnings result is broadly as expected, apart from the dividend, or lack thereof. First-half fiscal 2020 cash NPAT slid 10% to AUD 151 million, but was stable on second-half fiscal 2019. Annualised loan growth of 3% helped nullify a 3% fall in net interest margins, while a 9% increase in operating expenses to support the group's strategic priorities as well as higher risk and regulatory costs are as previously guided. Even loan losses remained low, flat at AUD 30 million or 13 basis points of loans. Including newly raised shares EPS fell 16%.