Westpac lifts payout after $3.5bn profit CHIEF executive Gail Kelly is rewarding shareholders with Westpac's first special dividend in 25 years but warned subdued credit growth would force the bank to work harder to increase profits. The nation's second-largest bank by market value unveiled the 10c-a-share special payout as it posted first-half cash earnings of $3.5 billion, driven by cost-cutting, lower bad debts and a margin boost from holding back some of the official rate cuts from homeowners.