The Markets

Westpac Bank jumps 5%; NZ shares rise

Monday 3rd of May 2021

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 the NZ sto...

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