People can blame them for all the bad stuff they did in business that gave Westpac the weakness performance out of the 4 banks. The buyback plan is a different matter due to attacks from the shorts. The delay might help bring the share price of Westpac closer to the share prices of ANZ and NAB. The original buyback plan was hatched with the expectation that the WBC share price would be around 26. Take 14% off, we have around 23.4 as the buyback price and after franking credit, shareholders still get around 4% profit plus the CGT nominal tax loss. I think there is a big IF here. If the buyback price is between 23-24 comes this Feb, it starts to make sense to be part of it. I would just put the discount at 0% and let Westpac decide if they want the shares or not.
WBC Price at posting:
$21.03 Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)