Westpac Banking Corporation (WBK) To Go Ex-Dividend on November 10th
Westpac Banking Corporation (NYSE:WBK) announced a None dividend on Monday, November 6th, NASDAQ reports. Shareholders of record on Monday, November 13th will be paid a dividend of 0.717 per share by the bank on Tuesday, January 2nd. This represents a yield of 5.82%. The ex-dividend date of this dividend is Friday, November 10th. This is a positive change from Westpac Banking Corporation’s previous None dividend of $0.71.
Westpac Banking Corporation has decreased its dividend by an average of 48.7% per year over the last three years. Westpac Banking Corporation has a payout ratio of 74.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Westpac Banking Corporation to earn $1.96 per share next year, which means the company should continue to be able to cover its $1.42 annual dividend with an expected future payout ratio of 72.4%.
Shares of Westpac Banking Corporation (WBK) traded up $0.19 during trading on Thursday, reaching $25.23. The company’s stock had a trading volume of 37,678 shares, compared to its average volume of 131,147. Westpac Banking Corporation has a fifty-two week low of $22.17 and a fifty-two week high of $27.05.
Several equities research analysts have issued reports on the company. Zacks Investment Research downgraded Westpac Banking Corporation from a “hold” rating to a “sell” rating in a report on Thursday. Citigroup Inc. raised Westpac Banking Corporation from a “sell” rating to a “neutral” rating in a report on Wednesday, July 19th. BidaskClub raised Westpac Banking Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Goldman Sachs Group, Inc. (The) raised Westpac Banking Corporation from a “neutral” rating to a “buy” rating in a report on Wednesday, July 12th. Finally, Morgan Stanley raised Westpac Banking Corporation from an “equal weight” rating to an “overweight” rating in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $28.00.
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About Westpac Banking Corporation
Westpac Banking Corporation is a banking organization. The Company provides a range of banking and financial services in markets, including consumer, business and institutional banking and wealth management services. The Company is engaged in the provision of financial services, including lending, deposit taking, payments services, investment portfolio management and advice, superannuation and funds management, insurance services, leasing finance, general finance, interest rate risk management and foreign exchange services.
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