Australia’s Macquarie Group cuts dividend outlook, ‘deeply’ regrets Nuix IPO fallout
FILE PHOTO: The logo of Australia s biggest investment bank Macquarie Group Ltd adorns a door to their Sydney office headquarters in Australia, October 28, 2016. REUTERS/David Gray
July 29, 2021
By Paulina Duran
SYDNEY (Reuters) -Australia’s Macquarie Group said on Thursday first-quarter profit for fiscal 2022 was up significantly from the pandemic-hit period a year earlier, but warned of lower dividends to come as it diverts cash to grow its business.
Chief Executive Shemara Wikramanayake also said during a virtual annual meeting that she regretted the impact on investors from the troubled 2020 IPO by Nuix Ltd, in which Macquarie had a 70% stake at the time. The software vendor has lost over half its value since then.
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