Update: National Australia Bank Posts Lower Fiscal H1 Cash Earnings, Higher Net Operating Income; Shares Fall 3%

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National Australia Bank (ASX:NAB) reported Monday fiscal first-half cash earnings of AU$0.861 per share, down from AU$1.145 a year earlier.

Analysts polled by FactSet expected earnings of AU$0.97.

Net operating income for the six months ended March 31 was AU$10.87 billion, compared with AU$10.27 billion a year earlier. Analysts surveyed by FactSet expected AU$10.96 billion.

The board declared an interim dividend of AU$0.85 per share, unchanged from the prior corresponding period, payable July 2 to shareholders on record as of May 8.

The bank's shares fell 3% in recent Monday trade.