WBC - Westpac Banking Corporation

[sptrawler]

i'm chucking all my units into the buyback at a 1% discount, just in case the majority go in at 0% due to the stock's poor performance since the buyback announcement (IIRC it was somewhere around $25 at the time, so even with the recent rally it's still well below those levels). but i have absolutely no idea what's going to happen. could miss out entirely, could get them all without scaleback, or anything in-between

this sudden movement does pose a bit of a risk, the VWAP will likely be a fair bit lower than the friday close at this rate, increasing the chance of slippage for the monday risk reversal. but the potential franking credits at a 1% discount are sufficient compensation for that risk i think

I've been nibbling away at these prices, even though I have quite a few in the SMSF. The franking credit is tempting, but I expect the share price and div/ to appreciate in line with NAB/ANZ, so I'm holding.
A lot of money is required for this "transition to green", so one way or another the big 4 will be supplying a lot of it IMO.

By the way did you hear the orchestral music fire up in the background, when I typed "transition to green", spooky. ?

 

[Sharkman]

I've been nibbling away at these prices, even though I have quite a few in the SMSF. The franking credit is tempting, but I expect the share price and div/ to appreciate in line with NAB/ANZ, so I'm holding.

oh i'll be holding too, i wouldn't want to sell now either, not when they've just been beaten down so badly. after checking what got bought back next week i'll be slapping on a risk reversal to get the units back in mar or apr.

i expect this week's movements will be unfavourable for the strategy, as VWAP probably ends up somewhere around 22 whilst the risk reversal might have to be done against a 22.50'ish underlying, but a 1% discount should make it quite profitable, i'm basically just gambling that a lot of holders either won't participate or won't take a discount.

it's entirely possible that a 1% discount isn't enough to get any units bought back at all, rendering the whole thing moot!

 

[divs4ever]

am holding my few with the DRP maybe i will end up with 10 or even 15 shares , before i pass on

who knows maybe the board will get a kick in the butt and return to concentrating on banking ( properly ) .. in my lifetime

 

[qldfrog]

who knows maybe the board will get a kick in the butt and return to concentrating on banking ( properly ) .. in my

Mr @divs4ever is a hardcore optimist..or fully high?

 

[divs4ever]

Mr @divs4ever is a hardcore optimist..or fully high?

well the meds help a bit , one hits me like two bottles of whisky a day ( at PBS prices what a bargain )

but yes former co-workers used to CRINGE when they finally realized i was an optimist ( and things really could get MUCH WORSE , and sometimes did AFTER being ridiculed as a doom merchant )

i remember back when i paid rent at WBC , and they had this promo for new customers .. a black roll-down beanie and remarked to the teller at the time ' are you sure you really want to attract the type of clientele ( armed robbers )'

reply ... 'i hadn't thought of that ' which i found totally bizarre in that area .. ( you could gauge the drug abuse by counting the used syringes on the way to the bank/shopping centre )

BUT on the bright-side i did ( am doing ) very well on BTT ( now PDL ) and made a profit during the WBC investment adventure

 

[Sharkman]

turned out to all be a pointless exercise in the end - discount was 6%, so a buy back price of 20.90 with a capital component of 11.34 (14.58 taxable) and a dividend component of 9.56 (4.10 franking).

guess it all worked out for the best in the end. a 6% discount in light of the recent price movements, the small div component and the excess tax value seems like a terrible deal (for the investor, so probably a good deal for WBC themselves, possibly a factor in the strong rally today). totally fine with getting none of my units bought back seeing the way things played out.

 

[frugal.rock]

i have to at least give them their dues for sponsoring that comp all those years ago

Pooey.
Just advertising and stamping their "W" brand in young impressionable minds...
The comp existed before Westy sponsored it. Probably helped it go mainstream and spread (like a disease) to other countries. I'll give em credit for that.

I got a credit and distinction in said competition in my youth, but no money.
(Won some money x2 from industry groups via mature age dux study though.)

To have won cash, I take my hat off to you.

 

[sptrawler]

turned out to all be a pointless exercise in the end - discount was 6%, so a buy back price of 20.90 with a capital component of 11.34 (14.58 taxable) and a dividend component of 9.56 (4.10 franking).

guess it all worked out for the best in the end. a 6% discount in light of the recent price movements, the small div component and the excess tax value seems like a terrible deal (for the investor, so probably a good deal for WBC themselves, possibly a factor in the strong rally today). totally fine with getting none of my units bought back seeing the way things played out.

Im pleased I nibbled away at the recent low prices, everything eventually goes back to the long term trend, even for WBC IMO.

 

[Sharkman]

Pooey.
Just advertising and stamping their "W" brand in young impressionable minds...
The comp existed before Westy sponsored it. Probably helped it go mainstream and spread (like a disease) to other countries. I'll give em credit for that.

I got a credit and distinction in said competition in my youth, but no money.
(Won some money x2 from industry groups via mature age dux study though.)

To have won cash, I take my hat off to you.

credit/distinction wouldn't have gotten cash, IIRC only 500 kids (per grade) across the whole of Aust got into the prizemoney bracket. it was a massive fluke, i wasn't exactly the most diligent student growing up (preferred to hang out at the video game arcades rather than the library), so i never expected to win anything like this, let alone win it several times in a row. pretty sure i hit my mental peak at 15 and have been getting dumber and dumber with each passing year since

naturally they didn't simply give us the cash just like that, all we got was some certificate that had to be taken to a branch, whereupon a westpac savings account would be opened with the prizemoney in it. sorta like the CBA dollarmites thing, stamping the brand onto young minds, as you say. closed the account a long time ago though.

 

[bigdog]

Website unavailable due to scheduled website maintenance

As part of our ongoing commitment to provide the best possible experience, we are undertaking some technical work.

The website will be unavailable from 1030am to 1130am ( Note : We are still taking calls and trades manually ) Thursday, 24 February 2022 (Sydney time) during which time you will be unable to:


You can check share prices S&P/ASX 200 on link below
Great site

Stock Quotes & Stock Prices - Investing.com AU

Complete real-time stock market coverage - streaming quotes for stocks from the most popular stock exchanges around the globe.

au.investing.com

 

[frugal.rock]

Still out... Dont know why anyone would want to invest in them anymore?
Not the only data problems they have had lately.
All too little, too late.
Don't fix it till it's completely broke attitude.

 

[qldfrog]

Do they realise that by calling this a scheduled maintenance they are showing themselves as:
Actually fully incompetent if it is true
or liars and not to be trusted if it is a system failure.
Both worse imho than stating:
Due to heavy traffic, our systems have suffered an unexpected crash, we apologise and will...
This is not a small issue....
Pathetic...

 

[Sharkman]

yep, strongly suspect their site has simply crashed and they're trying to isolate the cause and repair the damage. you never schedule maintenance on a weekday, especially during trading hours, if you care one iota about your customers. my money's on an unhandled null pointer exception from someone carelessly invoking a method without first checking that their object reference was not null, as a result of them building things as cheaply as possible.

 

[KevinBB]

Reminds me of NABTrade in its early days. Whenever there was a big down day their web site didn't work. They seem to have fixed it for now and it is working normally today, although today isn't really a big down day.

Feel a bit sorry for the retail brokers. I suspect that there isn't much work being done in any office at the moment, all the retail traders will be on their favourite brokerage web site just refreshing to see the latest prices.

KH

 

[frugal.rock]

Feel a bit sorry for the retail brokers.

Oh my. I think you need to see a doctor....

No feelings for all the poorer pundits that couldn't offload on open this morning due to an inept system?

The problem was apparent yesterday afternoon around 5:30 pm or so, almost like a freakin rehearsal for today.
??

 

[Garpal Gumnut]

The Russians have come to WBC.

gg

 

[Dona Ferentes]

The Russians have come to WBC.

gg

cold hard cash might be useful in the coming days
(Hermetica Digital)

 

[KevinBB]

$0.61 dividend. Just over 5% annualised, plus franking. That will do me.
3 out of 3. Happy with that.

KH

 

[qldfrog]

$0.61 dividend. Just over 5% annualised, plus franking. That will do me.
3 out of 3. Happy with that.

KH

so for the first time in years you have lost vs inflation with a successful trade?
Just saying, and no I do not do better but just to go past the joy of $ amount in your account...no refuge

 

[sptrawler]

Westpac boss tips house price falls of up to 15pc

Westpac’s Peter King expects a fall in house prices of 10 to 15 per cent over the next two years and says borrowers have capacity to absorb higher rates.

www.smh.com.au

From the article:
Westpac reported on Monday its profits dipped 12 per cent to $3.1 billion in the six months to March compared with a year earlier, due to higher bad debt provisions, though earnings were up sharply compared with the September half
The board lifted the bank’s interim dividend to 61c, which will be fully-franked and paid on June 24.
Analysts had expected about $2.8 billion in cash profits, according to a broker note from Jarden, and a dividend of 59c a share. However, some were highly uncertain about the outlook for Westpac.