Commonwealth Bank of Australia (CBA.AX) reported half year net profit after income tax on statutory basis of A$2.91 billion.
Net profit after income tax on cash basis for the half year period was A$2.94 billion. Earnings per basic share on cash basis were 191.7 cents, down 42% from 135.4 cents a year ago.
The company said that the board declared fully franked interim dividend of A$1.20 per share, which is payable on April 1, 2010.
The increase in interim dividend of seven cents to A$1.20 takes the payout ratio for the interim dividend to 63% which is consistent with pre Global Financial Crisis interim payout ratios, the company stated.
Looking ahead, the company expects gradual improvement in demand for credit in the 2010 calendar year accompanied by continued upward pressure on its funding costs.
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