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News: CBA Australia's Commonwealth Bank annual profit falls 11%, cuts dividend

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    Aug 12 (Reuters) - Commonwealth Bank of Australia (CBA) on Wednesday posted an 11.3% drop in annual cash profit and cut its final dividend for the first time in more than a decade.

    Cash profit from continuing operations for Australia's biggest bank came in at A$7.30 billion ($5.21 billion), slightly below an average estimate of A$7.39 billion from four analysts polled by Reuters. It was lower than the A$8.22 billion last year.

    CBA said it would pay a dividend of A$0.98 per share, compared with A$2.31 last year.

    ($1 = 1.4004 Australian dollars)

 
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