Nedbank jumps as dividend helps

201010 Nedbank head offices in Sandton North of Johannesburg.photo by Simphiwe Mbokazi 453

201010 Nedbank head offices in Sandton North of Johannesburg.photo by Simphiwe Mbokazi 453

Published Feb 25, 2013

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Johannesburg - Shares of Nedbank rise 2.2 percent to 192.11 rand, helped by a better-than-expected dividend payout.

South Africa's fourth-largest bank reported a 19 percent rise in full-year profit on Monday that was short of market consensus.

However, the dividend beat consensus.

Nedbank said it will pay a full-year dividend of 752 cents per share, above the estimate of 749 cents in a Reuters poll of analysts. - Reuters

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