1H 20 results key points:
- 1H 20 underlying profit of A$149 million (1H 19: A$256 million) reflects COVID-19 impacts, as previously advised. 1H 20 net profit attributable to shareholders of A$203 million.
- Business unit 1H 20 operating earnings affected by COVID-19: Australian wealth management A$59 million (-43 per cent); AMP Capital A$72 million (-40 per cent); AMP Bank A$50 million (-30 per cent); New Zealand wealth management A$18 million (-18 per cent).
- Strong capital position post AMP Life sale with surplus capital (above Board target capital level) of A$1.4 billion at 30 June 2020.
- Return to shareholders of up to A$544 million comprising: 1) A$344 million via a fully franked, special dividend of 10 cents per share; and 2) Up to A$200 million via an on-market share buy-back during the next 12 months, subject to market conditions.
 Underlying profit is AMP’s key measure of business profitability as it normalises investment market volatility.
For more on AMP Limited's binding agreement to repurchase Mitsubishi UFJ Trust and Banking Corporation’s (MUTB) 15 per cent shareholding in AMP Capital, please click here.