Public Administration News
Share
 |
Australia: No Dividend from Its Reserve Bank |
Source: |
silobreaker.com |
Source Date: |
Thursday, October 28, 2010 |
Focus: |
ICT for MDGs
|
Country: |
Australia |
Created: |
Oct 31, 2010 |
|
For the first time since the 1970s, Australia's Reserve Bank will not be paying out a dividend.
The bank says its earnings have slumped to $AU866 million, the lowest level since 1983.
It's annual statement shows a decline in foreign interest rates and the strong Australian dollar is to blame.
The last time it was unable to pass on a dividend was in 1975.
It's a big loss for the government which was handed a $6 billion windfall from the Reserve Bank the previous year.
|
|
|
|
|
Rate: |
0 ratings
|
Views: |
366 |
Comments: |
0 |
Favorited: |
0 |
Bookmarked: |
0 |
Tagged: |
0 |
|
|
|
|