Westpac shareholders should check their bank accounts today.
The post Here are the details about the Westpac dividend being paid today appeared first on The Motley Fool Australia. –
The banking giant is rewarding eligible investors with a fully franked interim dividend of 61 cents per share.
At Thursdayâs market close, the Westpac share price ended 0.46% higher at $19.62.
This came off the back of a positive day across the S&P/ASX 200 Index (ASX: XJO) which finished up 0.31%.
Below we take a look at the details surrounding the companyâs interim dividend.
Westpac distributes its H1 FY22 dividend
Westpac delivered a subdued performance across its key metrics for theÂ first half of the 2022 financial year.
In summary, revenue fell 8% to $10,230 million over the prior corresponding period. This was driven by challenging trading conditions across the companyâs consumer and business segments.
And despite operating costs falling by 10% to $5,373 million, Westpac reported a 12% decrease in cash earnings to $3,095 million.
Nonetheless, the board opted to ramp up its interim dividend by 5.2% over the prior comparable period (H1 FY21).
This is in line with the capital management framework, which has a targeted dividend payout ratio of between 60% and 75%.
Westpac share price snapshot
A disappointing past few weeks on the ASX has led the Westpac share price to tumble almost 20% in June.
This has dragged the bankâs shares to a loss of 8% this year to date. They are also down 24% over the past 12 months.
Itâs worth noting that Westpac shares hit a 52-week low of $18.80 last Friday before rebounding in the days following.
The post Here are the details about the Westpac dividend being paid today appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.