Clydesdale owner makes first profit in five years
CLYDESDALE Bank owner CYBG has declared its first dividend since floating on the stock market as it reported its first statutory profit in more than five years.
The Glasgow-based lender, which spun out of National Australia Bank (NAB) last year, is proposing to pay a “modest” inaugural dividend of 1p per share.
The commitment came as CYBG reported a statutory profit of £182 million for year ended September 30, after losing £164m the year before. Chief executive David Duffy said the bank had “delivered a strong performance”, stating that the lender had met all its targets during the period
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