Macquarie’s stellar run in commodities and global markets continues, powering another record result.
Macquarie Group reported another record profit after its markets businesses extended their outperformance, helped by the volatility in rates and commodities. Its broader international business generated 71 per cent of group profit.for the year to March 31 and said it would pay a $4.50 a share dividend, 40 per cent franked. The payout is at the lower end of Macquarie’s 50 per cent to 70 per cent dividend payout ratio coming in at 56 per cent.
Macquarie chief executive Shemara Wikramanayake said the group remains “cautious” but ready to capitalise on the right opportunities for growth. “Against a less certain market and economic backdrop, the diversity of Macquarie’s activities and the expertise of our teams ensured we maintained strong performance during the year,” Ms Wikramanayake said.
“The result reflected an increased contribution across commodities, primarily from inventory management and trading and risk management activities. Inventory management and trading increased substantially, driven by trading income from regional supply and demand imbalances primarily in North American gas and power markets,” Macquarie said.
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