NAB has cut its dividends to shareholders in a bid to maintain a more sustainable financial situation.
The bank had previously been giving out almost 100 per cent of its earnings to its shareholders, whose 99 cents a share was cut by 16 per cent to 83 cents a share.
NAB chief executive Philip Chronician said the decision was difficult and the bank acknowledged that shareholders rely on dividends for income, but they need to ensure they have a strong bank.