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(Reuters) -Australia's Macquarie Group on Friday reported a 39% decline in first-half profit that missed expectations as surging costs and lower asset sales proceeds crimped earnings at its large asset management division.
The financial conglomerate said its board had approved a share buy-back of up to A$2 billion ($1.29 billion) and declared an interim dividend of A$2.55 per share, representing a payout ratio about 70%.
Macquarie had already trimmed its earnings forecasts twice since its reco...
>>> Read more: Australia's Macquarie first-half profit falls 39%, misses expectations
The financial conglomerate said its board had approved a share buy-back of up to A$2 billion ($1.29 billion) and declared an interim dividend of A$2.55 per share, representing a payout ratio about 70%.
Macquarie had already trimmed its earnings forecasts twice since its reco...
>>> Read more: Australia's Macquarie first-half profit falls 39%, misses expectations
