ANZ Group Holdings Ltd (ASX: ANZ) shares are starting the week in the green, up 0.57% to $29.15 at the time of writing.
Meantime, the S&P/ASX 200 Index (ASX: XJO) is up 0.3%.
ANZ announced its 1H FY25 results and interim dividend last week.
The ASX 200 bank share will pay 83 cents per share with 70% franking on 1 July. This is the same as last year's interim dividend.
If you're not already invested in ANZ shares and you'd like to bank its next dividend, there is little time left.
ANZ goes ex-dividend tomorrow.
That means you only have until the market close today to snap up some ANZ shares with the dividend entitlement attached.
Current ANZ investors who would prefer to receive more shares instead of a cash payment also have to be quick.
You have until 5pm AEST on Thursday to submit your dividend reinvestment plan (DRP) elections.
The DRP share price will be based on the arithmetic average of the daily volume-weighted average price of all ANZ shares sold on the ASX and Cboe from 19 May to 30 May.
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How did ANZ's 1H FY25 report look?
For the six months ended 31 March, ANZ reported a 5% increase in revenue to $10,995 million compared to 2H FY24.
This is the strongest half-year revenue on record.
The record revenue included the first full half of earnings from the Suncorp Bank business, which ANZ acquired on 31 July.
There was a 12% lift in cash profit to $3,568 million and a 16% increase in statutory profit to $3,642 million.
Earnings per share (EPS) for 1H FY25 was 120.1 cents per share, up 13% on 2H FY24.
ANZ CEO, Shayne Elliott, said:
Our strong performance has again been driven by our continued momentum across each of our divisions, demonstrating the benefits of a stable, consistent strategy combined with sensible, targeted investment.
This highlights both the strength of our franchise and the step change in our earnings from the inclusion of the first full half of Suncorp Bank's earnings.
What's next for the ANZ share price?
Macquarie has a neutral rating on ANZ and expects its share price to fall from here.
Following the 1H FY25 report, Macquarie trimmed its 12-month price target to $27.50.
That's 5.5% below where the ANZ share price is trading today.
Macquarie said ANZ's record revenue fell short of its forecast by about 2% due to weaker margins and volume.
The broker said:
ANZ trades at ~13x forward P/E, representing an 18-19% discount to NAB and WBC.
Despite trading at a substantial relative discount to peers, we expect the market to remain cautious about the outlook, and this result is unlikely to provide a catalyst for re-rating. Maintain Neutral.
ANZ share price snapshot
The ANZ share price has increased by 3.5% over the past 12 months.
This is an underperformance compared to the broader market, with the ASX 200 up 6.5% over the period.
