Possible but I would say they are more likely to hold them steady:
Mar 15 8.9
Jun 15 9.9 div/major cap note raisings
Sep 15 10.2
Dec15 10.1 div
Mar 16 9.7
Jun 16 9.5 div
Sep 16 9.8
Dec 16 9.5 div
Their target is 8.75-9.25 so they still have room to play - and it has been much lower in the past. As you can see the CET goes down following all dividend distributions - by 0.1 to 0.3 and usually recovers in between by around the same. So, depending on performance we could be back to 9.8 by March. Failing that they are still above the target range of 8.75 to 9.25 and could absorb 3 more dividends easily and still be in range. Finally they are considering another CN issuance. I wouldn't be counting on any dividend increase though.
NAB Price at posting:
$30.87 Sentiment: None Disclosure: Held
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