Macquarie Group Q1 Net Profit Contribution Rises

Macquarie Group Ltd. (MQG.AX,MQBKY.PK) said that improved trading conditions saw its operating groups deliver net profit contribution in the first-quarter of fiscal year 2022 that was significantly up on the first quarter of the financial year of 2021, which had mixed trading conditions.

In order to allow additional flexibility to support business growth, the Board has resolved to update the annual dividend payout policy range to 50-70 per cent, Macquarie said in a statement.

The company noted that it continues to maintain a cautious stance, with a conservative approach to capital, funding and liquidity that positions the company well to respond to the current environment.

Macquarie said it remains well-positioned to deliver superior performance in the medium term.

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