Anyone who remembers me as an ultra-bear on NAB, I was wrong and am eating my words as I promised I would.
The market clearly loves the result and it looks like Ross McEwan has concocted a re-rating of this bank. Well done NAB holders. Still, why he raised capital at the bottom and paid out CR funds as dividends is beyond me, probably may have been $33+ by now if he didn't do anything.
The CET1 ratio looks healthy and so a pay bump can be expected in the May results.
I hold CBA/MQG directly and NAB indirectly via ETFs so I hope for everyone's sake it finally breaks its ~$40 ATH by next year and the dividend plumps up nicely to boot.
NAB Price at posting:
$29.67 Sentiment: Hold Disclosure: Not Held
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