NAB paid an interim dividend of 60c which was a payout ratio of approx 60%.
NAB have already flagged that they do not intend to go back to their previous very high payout ratios (Good!!) and will keep within more conservative levels. (can't remember the numbers they put on it... but let's say around the 70% plus or minus into the future)
ANZ full year Dividend was 142c which was a payout ratio approx 65%.
Assuming a reasonable 2nd half performance I would expect NAB may want to keep the ratio for now around a similar level (65%) which would suggest a 2nd half Div of approx 67.5c (rough figures) so my guess would be a Div of 65c to 70c.
They also stated they intended to satisfy this DRP with on market purchases which is also good news. That Ann was slightly unclear however I took it to mean they would use some of the Buy Back allocation to fund this which is what I thought was one of the reasons the Buy Back had been suspended, but who knows!?
Of course all eyes will be on costs and NIMs, but the market doesn't appear to think we will be surprised like WBC
I guess all will be revealed soon....................
NAB Price at posting:
$28.93 Sentiment: None Disclosure: Held
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