I forecast (see prev thread) a strong result from Westpac. Today's ann has met all my expectations, and regarding the final div, has exceeded them. I expected a 10% final div increase and the 23% announced has surprised me and daresay the mkt as well. For WBC to be willing to pay out such a strong div indicates one thing only IMO.... namely this bank has high degree of confidence that future earnings are safe and its time to reward shareholders. WBC is the only bank i hold coz i feel it's the most conservative of the 6 banks listed. So if WBC are happy to be bullish, it demonstrates they feel Oz economy is highly likely to remain robust. I don't share their confidence.... but am wondering if today's result will see the mkt re-rate the banking sector. Perhaps we will see the sector lift some 10% over the short-term. Either way today's SP will rise considerably.
WBC Price at posting:
$23.31 Sentiment: Hold Disclosure: Held
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