Our Performance
ANZ’s statutory profit after tax for the year ended 30 September 2009 was $2,943 million, down 11%, reflecting higher provisions. With an increase in the weighted average number of shares of 16%, this led to a fall in earnings per share of 23%. The dividend for the year was
$1.02 per share fully franked, down 25%.
Excluding the impact of $829 million from one-off items, hedging timing differences and non-continuing businesses our underlying profit1 for 2009 was $3,772 million, up 10%.
Underlying revenue growth of 17% was strong while costs increased by 12%, with our underlying cost-to-income ratio at 42.2%, down from 44%. Provisions were at cyclical highs with the total credit impairment charge up 46% to $3,056 million, with increases across all regions but most pronounced in New Zealand.
Importantly, ANZ maintained its AA-credit rating, one of only
11 banks remaining in the world with a AA-rating.
These results were achieved at a time the global financial system and the world economy came under extraordinary pressure and they reflect the very significant efforts of our management and our staff during the year. I thank them for their contribution.
Capital Management
During 2009 ANZ took further steps to manage its capital position and funding programs to ensure we were strongly positioned given the difficult financial and economic conditions.
In May, we undertook a fully underwritten $2.5 billion institutional share placement. In July, we completed a Share Purchase Plan for retail shareholders which saw us issue $2.2 billion of ordinary equity.
Over 40% of our retail shareholders participated, making it one of the most successful Share Placement Plans undertaken by an
Australian company. The new shares were issued at $14.40 compared to ANZ’s year-end share price of $24.39 representing a strong return to participating