So, if Buyback Market Price is $20.52 with a 14% discount…. You will be 0.17c a share WORSE OFF versus simply selling it on market today. Plus you’d have to wait almost a year to get the $2.70 franking credit refund so that you achieve that 17 cent loss.
Remember that CBA achieved a 14% discount in their buyback. So I’m guessing the ####### board thought they could manage that feat as well.
(###### = insert the adjectival phrase of your choice here to best describe their brilliance)
The way the SP is plummeting, they will be better cancelling this ill conceived buyback and announcing a special dividend instead. After all, the only reason they have extra cash for this buyback is because they cancelled dividends last year.
Ann: Westpac announces $3.5 billion off-market share buy-back, page-564
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Last
$31.81 |
Change
0.210(0.66%) |
Mkt cap ! $109.7B | |||
| Open | High | Low | Value | Volume |
| $31.45 | $31.88 | $31.41 | $114.6M | 3.615M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 11781 | $31.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $31.86 | 1778 | 2 |
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| Last trade - 16.10pm 03/09/2024 (20 minute delay) ? |
| WBC (ASX) Chart |