Westpac May Consider Special Dividend in 1H -- Market Talk

Dow Jones04-23

0426 GMT - Westpac could consider a special dividend at its 1H FY 2024 results, rather than another buyback later in the year, say Morgan Stanley analysts in a note. The investment bank sees a special dividend as a possibility because of the Australian major lender's healthy capital position and its around A$3.5 billion of franking credits at FY 2023. "Westpac has not commented publicly on its plans, but Commonwealth Bank has previously noted that dividends are now the 'only distribution mechanism' for surplus franking credits," notes MS. It adds that Westpac's new chair Steven Gregg isalso a chair at Ampol, which recently paid special dividends. "Unfortunately, we don't see much scope for Westpac to lift its ordinary dividend," MS says. (alice.uribe@wsj.com)

(END) Dow Jones Newswires

April 23, 2024 00:26 ET (04:26 GMT)

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The investment bank sees a special...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4127","symbol_name":"投资银行业与经纪业","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2429134115","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2429134115","pubTimestamp":1713846360,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"0426 GMT - Westpac could consider a special dividend at its 1H FY 2024 results, rather than another buyback later in the year, say Morgan Stanley analysts in a note. 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