Profit and dividend lift for Wide Bay

Wide Bay Australia yesterday provided a couple of its trading highlights for the December 2009 half year. The Bundaberg-based building society said it expected to report a net profit of $11.5 million, up 20 per cent over the corresponding profit in 2008.

The lender said assets increased marginally to $2.6 billion at the end of December 2009, up from $2.48 billion at June 2009.

Wide Bay also hinted at an increased interim dividend. The half-year profit works out at 36.6 cents per share, and the building society paid a dividend of 30 cents a share this time last year.