Westpac Special Dividend Should Come in 2025 -- Market Talk

Dow Jones08:17

0017 GMT - Westpac should have capacity to pay a special dividend in 2025 and to undertake ongoing share buybacks, Morgan Stanley analyst Richard E. Wiles writes in a note. He is surprised that Westpac did not opt to pay a special dividend alongside this week's annual result announcement. He reckons that the lender's healthy capital position should support the move over the next 12 months instead. Westpac's fiscal 2024 result was otherwise short on surprises for Wiles, who sees improving earnings momentum but also execution risks ahead. MS raises its target price 1% to A$30.00 and stays equal-weight on the stock. Shares are down 0.8% at A$32.14. (stuart.condie@wsj.com)

(END) Dow Jones Newswires

November 04, 2024 19:17 ET (00:17 GMT)

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Wiles writes in a note. He is surprised that ...</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":"LU0971096721.USD","symbol_name":"富达环球金融服务 A","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481917560","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481917560","pubTimestamp":1730765820,"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":"0017 GMT - Westpac should have capacity to pay a special dividend in 2025 and to undertake ongoing share buybacks, Morgan Stanley analyst Richard E. 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Wiles writes in a note. He is surprised that Westpac did not opt to pay a special dividend alongside this week's annual result announcement. He reckons that the lender's healthy capital position should support the move over the next 12 months instead. Westpac's fiscal 2024 result was otherwise short on surprises for Wiles, who sees improving earnings momentum but also execution risks ahead. MS raises its target price 1% to A$30.00 and stays equal-weight on the stock. Shares are down 0.8% at A$32.14. 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