3.5 billion share buyback will result in a conservative 3-4% reduction in market cap.
50 cent upcoming dividend is 2.4% for the half which is higher than the asx average for an entire year.
30% share price slaughtering, remember we’re discussing an Australian big 4 bank!
Cost cutting! Have always said blue chips have to much extra baggage looking to cash a pay check at the expense of the company owners (share holders) without making an essential contribution to the company. Plenty of other cost cutting measures put in place which in the long term will prove financially beneficial to holders.
Have a ten year hold on WBC, by my calculations WBC will be selling for $118.53c in 120 months excluding yield.
Am up 4.2% on shares purchased @ 20.17 last week.
WBC Price at posting:
$21.02 Sentiment: Buy Disclosure: Held
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