Bendigo Bank Could Pay Out Series of Special Dividends -- Market Talk

Dow Jones03-25

2215 GMT - Bendigo and Adelaide Bank's sale of its shareholding in Homesafe Solutions will lead to a slow release of capital, say Citi analysts in a note. They estimate there's around A$400 million of CET1 capital associated with Homesafe, which will be released over some eight years as the portfolio runs off. "We think this could form the basis for an elongated capital release plan, with potentially a series of special dividends used to release franking credits," says Citi. Despite viewing Bendigo's balance sheet as being in good shape, Citi has a sell call on the stock to macro concerns. Still, it prefers Bendigo over rivals Bank of Queensland and Judo. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

March 24, 2024 18:15 ET (22:15 GMT)

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