Two of Australia's largest companies have revealed diverging fortunes, with the Commonwealth Bank's cash profit falling, while biotech giant CSL has reported another six months of strong growth.
As the banks continue to deal with the fallout of the banking royal commission and operate in a low interest rate environment, CBA shares have outperformed the rest of the big four banks, rising 15 per cent over the past 12 months.
CBA shareholders will receive an interim dividend of two dollars per share, unchanged from last year. CSL's interim dividend was higher than many analysts expected at $US0.95 , which was 18 per cent more in Australian dollars than last year's shareholder payout. "CSL is well positioned for sustainable growth. Exceptional demand continues for our differentiated therapies," its chief executive Paul Perreault noted in the report.
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