FX.co ★ Macquarie FY Profit Drops; Cuts Dividend

The Australian financial services company Macquarie Group Ltd. has announced a decrease in its profit for the fiscal year ending March 31, 2024. The profit attributed to ordinary equity holders fell to AUD 3.52 billion or 911.4 cents per share, down from AUD 5.18 billion or 1,316.3 cents per share the previous year.

The company's net operating income also decreased during this period, dropping to AUD 16.89 billion from AUD 19.12 billion the previous year. This decline was primarily due to reduced net interest and trading income, as well as lower net other operating income. However, these losses were partially offset by credit and other impairment reversals within the current year.

In terms of dividends, Macquarie announced a final payout of AUD 3.85 per share, a decrease from last year's final dividend of AUD 4.50 per share.