August 21, 2019 / 11:00 PM / a month ago

Australian grocer Coles annual profit falls 9%, declares maiden dividend

Aug 22 (Reuters) - Supermarket operator Coles Group said on Thursday its annual net profit fell 9%, hit by costs related to its separation from parent Wesfarmers late last year.

Australia’s second-largest grocery chain said net profit for the year to June 30 came in at A$1.43 billion ($969.97 million), down from A$1.58 billion last year.

The company declared a final dividend of 24 cents a share and a special dividend of 11.5 cents a share, the first dividends. ($1 = 1.4743 Australian dollars) (Reporting by Rushil Dutta and Ambar Warrick in Bengaluru; Editing by Bernard Orr)

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