Westpac Bank jumps 5%; NZ shares rise

Mon, 03 May 2021

Dual-listed Westpac Bank led the New Zealand share market higher as it reported half-year profit more than doubled and said it would resume paying dividends. The S&P/NZX 50 Index rose 37.71 points, or 0.3%, to 12,768.84. Within the index, 29 stocks rose, 18 fell and four were unchanged. Westpac reported an enormous leap in its bottom-line result, up 189% to A$3.44 billion. The board declared an interim dividend of 58 Australian cents, representing a 60% payout ratio. Shares in the banking group jumped 5.3% to $28.28 on...

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