The recent company reporting season provided an insight into the financial impact of COVID-19 on the economy and for investors.

Only 75% of ASX 200 companies reported a net profit in the year to June. Full-year earnings were down 38% on aggregate, while dividends were down 36%.

53% of companies either cut or didn’t pay a dividend, a move that will affect investors who depend on dividend income from shares.

The current cash target rate of 0.25% has been left unchanged and is expected to remain at its current level for the foreseeable future.

Please get in touch if you’d like assistance with your personal financial situation.

This Newsletter provides general information only. The content does not take into account your personal objectives, financial situation or needs. You should consider taking financial advice tailored to your personal circumstances. We have representatives that are authorised to provide personal financial advice. Please see our website www.evogroup.net.au or call 02 9098 5055 for more information on our available services.