0427 GMT - ANZ is likely to cut its dividend at the end of its current fiscal year, Macquarie analysts reckon. They tell clients in a note that Nuno Matos is likely to review the Australian bank's capital structure after taking over next week, which would lead to a lower shareholder payout. Macquarie analysts see significant execution risks in ANZ's technology overhaul and integration of its Suncorp Bank acquisition. With soft underlying trends and a lack of visibility on outlook, they see little chance of the stock rerating. Macquarie cuts its target price by 1.8% to A$27.50 and keeps a neutral rating on the stock. Shares are down 0.85% at A$29.15. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 09, 2025 00:27 ET (04:27 GMT)
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