(Bloomberg) — National Australia Bank Ltd. will raise A$3.5 billion ($2.24 billion) in a share sale and slashed its dividend to boost capital after first-half profit plunged, kicking off what promises to be a horror earnings season for the nation’s lenders.Cash earnings slumped 51% to A$1.4 billion in the six months ended March 31, the Melbourne-based bank said in a statement Monday. The dividend was sliced to 30 Australian cents a share, from 83 Australian cents last year — a hit to the income of retail investors who hold almost 50% of the bank’s shares.Click here or more details on …read more
Source:: Yahoo Finance
