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Nedbank jumps as dividend helps

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.

Nedbank head offices in Sandton North of Johannesburg. File photo: Simphiwe Mbokazi. Credit: Independent Newspapers

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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