ANZ Halts $520M Buyback Amid Restructuring, Maintains Dividend
ANZ Banking Group has suspended its remaining A$800 million ($520 million) share buyback program while preserving dividends, a MOVE coinciding with plans to eliminate 3,500 positions. Australia's fourth-largest lender is prioritizing capital preservation as it restructures operations.
The decision reflects broader banking sector caution as institutions balance shareholder returns with operational efficiency. ANZ's job cuts signal aggressive cost management, though its commitment to dividends may reassure income-focused investors.