Commonwealth Bank CEO Matt Comyn revealed the bank is facing three obstacles to share buybacks and even bigger dividends as it announced a $3.9 billion cash profit on Wednesday and around $10 billion in excess capital.
CBA is poised to shower shareholders with as much as $2.7 billion in dividends in late March, after raising the first-half distribution by 53 per cent to $1.50 a share compared with the previous half.
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James Frost writes about banking, funds management and superannuation. Based in Melbourne, James has been reporting on specialist business and finance topics for 15 years. Connect with James on Twitter. Email James at james.frost@afr.com
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
