Westpac is holding $235mm as a rainy day fund, they have a payout ratio of 79.53% and 3.43B shares outstanding.
235,000,000/3,430,000,000=$0.06/share
So at most this could cost us 6 cents per share from our dividend, however, their payout ratio is not 100% so I expect this will just be absorbed in there earnings somewhere. It is unlikely this will pass through to the dividend. Their earnings per share was $2.36 (ttm) so the market is over-reacting (as usual) the payout ratio will just go up a bit without effecting dividends.
Westpac is holding $235mm as a rainy day fund, they have a...
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