AMP's weaker core

The troubled wealth manager has cut its final dividend and expects a weak full-year result for 2018. But that's less important than the performance of its core divisions.

It's no secret that AMP is under pressure, as we highlighted in a two-part series before Christmas, but Friday's warning of a weak result and a savage dividend cut underlined the difficulties it faces.

The dividend was always going to fall - as we highlighted in May last year - but the severity of the cut is nonetheless shocking, with the final dividend reduced to 4 cents, from 14.5 cents a year earlier, halving the full-year payout from 29 cents to 14 cents.

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