Bendigo and Adelaide Bank Ltd (ASX:BEN) share price flat after delivering strong FY18 results

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Bendigo and Adelaide Bank Ltd (ASX:BEN) on Monday reported a full year profit for the 12 months ending 30th June 2018 of $434.5 million, up 1.1 per cent on the same period a year earlier.

On a per-share basis, the company said it had a profit of 92.1 cents. This compares with a profit of 88.5 cents per share in the corresponding period last year. The company declared a fully franked final dividend for the period of 35.5 cents per share, an increase of 1 cent.

Managing Director Marnie Baker said the results demonstrate the long-held commitment to customers which has led to independent recognition as Australia’s most trusted bank. The results set a strong foundation for the Bank’s refreshed vision to be Australia’s bank of choice

In Monday morning trade, Bendigo and Adelaide Bank Ltd shares gained 2 cents or 0.2 per cent to $11.45.

The Bendigo and Adelaide Bank Ltd share price has fallen 1.8 per cent since the beginning of the year, while the S&P/ASX 200 Index has gained roughly 3.6 per cent.

Contributors to this article may own shares in some of the companies mentioned in this article. The Capital Club has a thorough disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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Bruce Jackson has 30 years of hands on investing experience. He is passionate about stock market investing, running his own portfolio and SMSF. His focus is on small cap growth stocks. You can contact Bruce at brucej@thecapitalclub.com.au