wayneL
VIVA LA LIBERTAD, CARAJO!
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I may, or may not, have added a small parcel tooTopped up with a few this morning ($21.30), here's hoping.
WBC - Westpac Banking Corporation
- Thread starter PLJ50L
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I use Westpac as my broker. Just habit.
I notice on their share trading page they have a picture to, I suppose, represent what they would like customers to see when they are trading shares.
The first picture I remember was this sharp looking young male investor looking over his screen. Later on it was a man and a woman looking equally invested in whatever they were watching. The latest innovation is just a bit more modern
I notice on their share trading page they have a picture to, I suppose, represent what they would like customers to see when they are trading shares.
The first picture I remember was this sharp looking young male investor looking over his screen. Later on it was a man and a woman looking equally invested in whatever they were watching. The latest innovation is just a bit more modern
DrBourse
If you don't Ask, you don't Get.
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I last mentioned WBC back on 4/5/23 - almost at $20.00 - $18-80 is just bit further down, C'mon SixPac you can do it.....
Last edited:
M
Just need the Dow Jones to drop -1000+ points sometime soon lol here's hoping/waiting for a mini market correction crash?I last mentioned WBC back on 4/5/23 - almost at $20.00 - $18-80 is just bit further down, C'mon SixPac you can do it.....
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I'm 50/50 cash ATM, waiting, waiting.I last mentioned WBC back on 4/5/23 - almost at $20.00 - $18-80 is just bit further down, C'mon SixPac you can do it.....
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Westpac’s Full Year 2023 (FY23) Notable Items Westpac today announced that its reported net profit after tax in FY23 will be reduced by $173 million due to Notable Items, significantly lower than FY22 Notable Items of $874 million.
The FY23 Notable Items comprise:
Sale of the Advance Asset Management business - $256 million profit.
An increase in provisions for customer refunds, repayments, associated costs and litigation including costs associated with the one-off levy for the Commonwealth’s Compensation Scheme of Last Resort - $176 million loss.
Restructuring costs associated with organisational simplification and the discontinuance of specialist businesses - $140 million loss.
The write-down of assets and costs related to reducing our corporate and branch footprint - $87 million loss.
Unrealised fair value gains and losses on economic hedges and net ineffectiveness on qualifying hedges - $26 million loss.
The net impact of these Notable Items was to reduce the Common Equity Tier 1 capital ratio by 4 basis points.
Details of Notable Items in FY23 are in Appendix 1 and a summary of line-item impacts are in Appendix 2.
Full Year 2023 results are scheduled to be announced on Monday, 6 November 2023.
i hold ( a trivial amount of ) WBC
The FY23 Notable Items comprise:
Sale of the Advance Asset Management business - $256 million profit.
An increase in provisions for customer refunds, repayments, associated costs and litigation including costs associated with the one-off levy for the Commonwealth’s Compensation Scheme of Last Resort - $176 million loss.
Restructuring costs associated with organisational simplification and the discontinuance of specialist businesses - $140 million loss.
The write-down of assets and costs related to reducing our corporate and branch footprint - $87 million loss.
Unrealised fair value gains and losses on economic hedges and net ineffectiveness on qualifying hedges - $26 million loss.
The net impact of these Notable Items was to reduce the Common Equity Tier 1 capital ratio by 4 basis points.
Details of Notable Items in FY23 are in Appendix 1 and a summary of line-item impacts are in Appendix 2.
Full Year 2023 results are scheduled to be announced on Monday, 6 November 2023.
i hold ( a trivial amount of ) WBC
I am on the side line for $19...
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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may as well record it*
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Westpac will pay a final dividend of 72 cents per share, up from 64 cents per share the previous year. This increase will bring the total dividend for the year to $1.42 per share, up from $1.25. In addition, Westpac also unveiled a $1.5 billion share buyback program.
Westpac reported a record net profit of $7.2 billion for the 2022-23 fiscal year, a 26% increase. This followed a 22% rise in first-half profit to $4 billion. The bank has now abandoned the use of cash earnings as a profit measure.
Net interest margins, a crucial indicator of bank profitability, increased by 0.02 percentage points to 1.95%. Despite these gains, the bank cautioned that they were "partly offset by tighter loan spreads due to intense competition as well as an increase in low-returning liquid assets.".
CEO Peter King stated that the result delivered "a better return on equity, higher earnings per share, and increased net profit." He also acknowledged that the bank's expenses had eased by 1%, but there was recognition of the need to further reduce the cost-to-income ratio relative to peers. Impairment provisions were increased to position the bank's balance sheet appropriately for the uncertain economic outlook.
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*not many focus on the large caps, on ASF .
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Westpac will pay a final dividend of 72 cents per share, up from 64 cents per share the previous year. This increase will bring the total dividend for the year to $1.42 per share, up from $1.25. In addition, Westpac also unveiled a $1.5 billion share buyback program.
Westpac reported a record net profit of $7.2 billion for the 2022-23 fiscal year, a 26% increase. This followed a 22% rise in first-half profit to $4 billion. The bank has now abandoned the use of cash earnings as a profit measure.
Net interest margins, a crucial indicator of bank profitability, increased by 0.02 percentage points to 1.95%. Despite these gains, the bank cautioned that they were "partly offset by tighter loan spreads due to intense competition as well as an increase in low-returning liquid assets.".
CEO Peter King stated that the result delivered "a better return on equity, higher earnings per share, and increased net profit." He also acknowledged that the bank's expenses had eased by 1%, but there was recognition of the need to further reduce the cost-to-income ratio relative to peers. Impairment provisions were increased to position the bank's balance sheet appropriately for the uncertain economic outlook.
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*not many focus on the large caps, on ASF .
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Westpac Bank
We’re aware that customers are currently experiencing issues accessing account information in online and mobile banking. Our teams are working to fix the issue. We apologise for any inconvenience and will continue to share updates here.
9:19PM
Reports of cards not working at POS also
We’re aware that customers are currently experiencing issues accessing account information in online and mobile banking. Our teams are working to fix the issue. We apologise for any inconvenience and will continue to share updates here.
9:19PM
Reports of cards not working at POS also
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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must top up wallet tomorrow
Dona Ferentes
Abrió la caja, vio al gatito, y sonrió
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Everyone happy?
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.
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only if the DRP kicks in an extra share ( my shares for MQG and WBC appear in the account tomorrow )
i could whinge more but i even fumbled the graceful exit , so i have stuff-ups too
Just a query , Mr Divs : why bother with DRP at all when you can buy $ 1000 worth of just about anything these days for a trifling $ 5 with Commsec and probably even less with cheaper on-line brokers ?
Less hassle than having to record the cost base of each new share parcel , twice a year .
Less hassle than having to record the cost base of each new share parcel , twice a year .
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well i had a largish parcel and was in the DRP but finally lost patience with them ( and got my exit price a couple of days after going ex-div. and unexpectedly as well ) but forgot to opt out of the DRP , since the remaining shares are profit , i just left them run
who knows after all those bumbling decades they might have a genuine light-bulb moment .. or i might be tempted to buy more around $10 .. they were $16.60 the last parcel i bought
they are sitting there pumping out a few extra franking credits
and yes i could buy extra parcels but KSL and MYS are better deals for me ( so i look at WBC @ $20 something and move on )
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The question was why bother with drp instead of cashing $ and put an order a bit lower than drop price..easier to manage and with the low discount usually provided, probably cheaper.
This is not Westpac specific as I understand it.
I am the same too..why bother with drp..my own answer is I do not
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i just let them run , my strategy was always to bulk up ( the various ) holdings before 2020 when i planned to retire
2017 changed that and the Covid inflation shifted the strategy again
if they had a DRP when i bought before 2020 i almost always fully or partly participated
currently i hardly ever sign up for the DRP on new stocks purchased
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Have to include a thieving bank in this Comp. Just threw a dart and came up with WBC. Huge profits and good divs.
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Hi @farmerge please follow link to put your thoughts in for WBC
WBC - Westpac Banking Corporation
Topped up with a few this morning ($21.30), here's hoping.:cool: I may, or may not, have added a small parcel too
www.aussiestockforums.com
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Westpac hasn't generated nearly as much total return over the last 52 weeks as its peers despite generating a decent (if still the lowest of the 4) FY ROE
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