Argo boss says big bank dividends safe even in a downturn

new investment, which means existing players will be highly profitable in a lengthy energy transition.

announced a 6.2 per cent rise in first half net profit to $137 million. It lifted its interim dividend to a record high of 16.5¢ from 16¢ a year ago.are trading around a record high of $110, which Mr Beddow said on normal valuation levels was clearly over-priced. “We would say yes,” he said, before adding that the lender was superior to National Australia Bank, Westpac and ANZ, and deserved to trade on a much higher multiple.

Rising interest rate cycles are historically good for bank profits because margins are fatter, although extra attention from the Federal government and the Australian Competition and Consumer Commission on banks and their generally meagreIt is simply too hard to predict where the Australian economy is headed, he said. “There is no clear line of sight for the next six to twelve months.”

Source: News Formal (newsformal.com)

AFIC it is then.

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