WBC - Westpac Banking Corporation

[Greg71]

It's at a "turning point" I guess. While it's forming a double top, it's also an ascending triangle, plus it's above the 30 week m/a.

So, will it be 1. and ascending tri 2. a double/ triple top or 3. a sideways channel.

This week will be interesting.

 

[white_goodman]

the overall trend is up, im in for a long position... we shall see this week..

the chart below looks like its gonna hit that double top again, if it has some momentum we may breakthrough... up in the air atm

 

[roland]

Thought I would spread my misery around with all my holdings. Maybe my losses will brighten up someone else.

WBC -13.13%

 

[niknah]

Makes me feel better, but not good, here's my losses...

-7.36% WBC
-40.62% ANZ

It's going to take several years or a decade for some of these companies to get back up.

 

[Big_Daz]

Quick question...if you were to invest in SGB instead of WBC as at this date, would you still pick up the $1.28 div SGB is paying or do you miss out?

Thanks guys

 

[deadset]

Anyone know the next ex-dividend date ?
(I'm guessing yesterday)

Would you believe I sold SGB the day before the takeover announcement.
($22-24 or something)

 

[TheAbyss]

Anyone know the next ex-dividend date ?
(I'm guessing yesterday)

Would you believe I sold SGB the day before the takeover announcement.
($22-24 or something)

11 November registration date @ 72c per share payable on 17th December. 100 characters is tough to achieve sometimes.

 

[deadset]

Thanks for that.

I think I might buy back in soon for a few of the banks, I caught a bit of the slide from before.

The finger in the pie seems to working for banks in any case, its screwed up my timing though for when I should buy back in. With a divy coming up and an election in the US coming up its all in the timing.

 

[fujitsu]

wbc is going exdiv tomorrow meaning most likely its sp will fall reflecting the div payment. Since wbc is merging with sgb and sgb shareholders will get 1.31 wbc shares will sgb sp fall as well?

 

[TheAbyss]

wbc is going exdiv tomorrow meaning most likely its sp will fall reflecting the div payment. Since wbc is merging with sgb and sgb shareholders will get 1.31 wbc shares will sgb sp fall as well?

Fuji, you frightened the bejesus out of me. I thought i had plenty of time to sell out of WBC pre ex div date until i read your post.

They go ex div in another week not tomorrow (I have pasted an excerpt from the dividend statement released to market 30 October below). In the interim some nice gains being experienced and hopeful of a bit more pre going ex div.

The dividend will be paid to all holders of Westpac ordinary shares who are registered on the share register as at the record date, 5.00 pm (Sydney time) on 11 November 2008 (5.00 pm (New York time) on 10 November 2008).

 

[roland]

Fuji, you frightened the bejesus out of me. I thought i had plenty of time to sell out of WBC pre ex div date until i read your post.

They go ex div in another week not tomorrow (I have pasted an excerpt from the dividend statement released to market 30 October below). In the interim some nice gains being experienced and hopeful of a bit more pre going ex div.

The dividend will be paid to all holders of Westpac ordinary shares who are registered on the share register as at the record date, 5.00 pm (Sydney time) on 11 November 2008 (5.00 pm (New York time) on 10 November 2008).

Westpac are ex-div tomorrow:

Dividend Type Cents Per Share Franked % Ex-Dividend Date Pay Date
Final 72.00 100 05 Nov, 08 17 Dec, 08

The record date is ex-div date plus 3 days, plus the weekend - so I believe today was the last date

 

[sails]

...The dividend will be paid to all holders of Westpac ordinary shares who are registered on the share register as at the record date, 5.00 pm (Sydney time) on 11 November 2008 (5.00 pm (New York time) on 10 November 2008).

Perhaps you have mistaken the record date with xdiv date. Below is a cut & paste from their website: http://www.westpac.com.au/internet/publish.nsf/Content/WIICFC+Financial+calendar

 

[TheAbyss]

Thanks guys. Looks like i have found another method to leave some cash on the table.

Nothing else to say for the 100 other than oops!

 

[sails]

Thanks guys. Looks like i have found another method to leave some cash on the table.

Nothing else to say for the 100 other than oops!

Seems to be part of the learning process - called the school of hard knocks. It's where the best lessons are learned Anyway, will depend on how the market performs tomorrow - while a drop by at least the dividend amount is the expected norm, they don't always if there is a strong up move on xdiv day. Just as it can exceed the dividend amount on the downside on a bearish day. Hope it works out in your favour

 

[TheAbyss]

Appreciate the sentiment. Comsec tells me that ex div date is the 5th so i have today yet to close out so no problem as i see it.

 

[Real1ty]

Appreciate the sentiment. Comsec tells me that ex div date is the 5th so i have today yet to close out so no problem as i see it.

If you wanted to sell without receiving the dividend, you need to sell PRIOR to the ex dividend date.

Ex Dividend
The first day of trading when shares trade without the entitlement to the dividend. To be entitled to a dividend a shareholder must have purchased shares before the ex dividend date. Shares are quoted ex-dividend four business days before the Record date.

Record date
The date on which Westpac's register of Shareholders is closed in order to determine entitlement to a dividend.

I think you might be lucky as with the market improving and the DOW up 300 points, you might find it won't drop as much as you expected and who knows it may even appreciate over the next day or two.

 

[sails]

Appreciate the sentiment. Comsec tells me that ex div date is the 5th so i have today yet to close out so no problem as i see it.

If you own the shares, it shouldn't make a lot of difference as you should now be entitled to receive the dividend which technically puts you as being no worse off than yesterday. Just means waiting until the div is actually paid to bring your account back to this level. You may also qualify for the franking credit depending on your circumstances. So, you should still be able sell today and receive the dividend in a few weeks.

But don't take my word for it as I'm not a financial advisor - check with your broker for clarification

 

[TheAbyss]

Thanks guys. Worked out well (albeit poorly researched on the div dates),

Bought at $20.35 last week, sold for $21.50 on 70% lvr today. Obtained the dividend at 72 cents ps plus a capital profit on the SP.

Profit on trade 26.16%.

 

[coolacoola]

After the market closed, they released a statement stating that they have a 200m exposure to Allco. Depending on the way the dow performs tonight, the stock could face some pressure tomorrow. Then again i may be wrong if the Dow rallies 500 points.
Interesting times

http://business.smh.com.au/business/westpac-with-200m-exposure-to-allco-20081105-5icn.html

 

[sails]

Thanks guys. Worked out well (albeit poorly researched on the div dates),

Bought at $20.35 last week, sold for $21.50 on 70% lvr today. Obtained the dividend at 72 cents ps plus a capital profit on the SP.

Profit on trade 26.16%.

Always nice when you can learn a lesson from the market and still get some profit - congrats on a winning trade