Westpac hikes dividend as half year profit surges

Westpac has reported a half-year net profit of $4 billion and increased its dividend by 15 per cent. Photo: AAP

Westpac is lifting its dividends after increasing net profit 22 per cent in the six months to March 31, as the bank cut operating expenses and paid less in remediation.

Australia’s oldest bank on Monday announced a net profit of $4 billion and lifted its dividend 15 per cent.