Macquarie Group Ltd (ASX: MQG), Australia’s largest investment bank, released its preliminary annual report for 2018 revealing a profit and dividend increase.

In the year to March 31, 2018, Macquarie reported revenue/income of $10.9 billion, up 5% from its result in 2017. Macquarie’s bottom line (aka profit) came in at $2.56 billion, up 15% over the prior period.

“FY18 highlighted the strength of Macquarie’s global platform, the diversity of its business mix and ongoing ability to adapt to changing market conditions and client needs,” Macquarie CEO, Nicholas Moore said.

Moore, who earned $19.6 million for 2018, said Macquarie’s less cyclical business units helped the combined group’s profit result.

“Macquarie’s annuity-style businesses… continued to perform well, with combined net profit contribution of $A3,451 million, up six per cent on FY17.”

The bank’s commodities, global markets and Macquarie Capital operating units reported an 11% increase in profit, it said.

For shareholders, Macquarie announced a final dividend of $3.20 with 45% franking. That takes its total dividends for its 2018 financial year to $5.25, up 12% over the prior year.

Looking ahead, Macquarie said it expects the 2019 financial year result to be broadly in-line with 2018, subject to market movements and other factors.

“Macquarie remains well positioned to deliver superior performance in the medium term due to our deep expertise in major markets, strength in diversity and ability to adapt the portfolio mix to changing market conditions, the ongoing benefits of continued cost initiatives, a strong and conservative balance sheet and a proven risk management framework and culture,” Mr Moore concluded.

Wouldn’t it be nice to earn $19 million in one year? (we’d probably never write again)

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