Alerts in the last 24 hours

No Personalised Alerts!

To see personalised alerts you need to be logged in.

Log In

Westpac Banking Corporation Add to portfolio

XJO:WBC, Dec 09, 09:43 UTC

Latest XJO:WBC News

Filter your feed

Apply Filter

Wednesday, December 04


News

Westpac Banking Corp (ASX:WBC) Plans Final Dividend of $0.80

WBC

Westpac Banking Corp (ASX:WBC) declared a final dividend on Tuesday, November 5th, MarketIndexAU reports. Investors of record on Friday, December 20th will be given a dividend of 0.80 per share on Friday, December 20th. The stock has a fifty day simple moving average of A$27.18 and a 200 day simple moving average of A$27.88. Westpac Banking has a 52-week low of A$23.30 ($16.52) and a 52-week high of A$30.05 ($21.31).

Read Full Details

Topics:
  • Business
  • Financial

Tuesday, December 03


News

9.3% dividend yield, is the Westpac share price a buy?

WBC

You may remember that Westpac recently cut its final dividend to $0.80 per share in its FY19 result. If we assume that the next dividend payment is $0.80 that amounts to a full year dividend of $1.60 per share, the same as Australia and New Zealand Banking Group’s (ASX: ANZ) dividend. Even though the Westpac dividend was cut by a mid-teen percentage, it has suffered a share price fall of 9.5% over the past month which has nullified a lot of the fall for any potential investors. The CEO Brian Hartzer has lost his job and the Chairman has decided to bring forward his retirement. But some investors like WAM Leaders Ltd (ASX: WLE) are now saying the beaten-down share price of Westpac could actually be an opportunity. Except for the fine, Westpac probably has a reasonably similar outlook along with the other banks, so maybe this price could be a cheap opportunity compared to the other banks on the ASX. 3 Top ASX Dividend Shares To Buy That Could Be Better Than Westpac. When Edward Vesely -- our resident dividend expert -- has a stock tip, it can pay to listen.

Read Full Details

Topics:
  • Business
  • Financial
  • Entertainment

Saturday, November 30


News

Mattel Inc to Post FY2020 Earnings of ($0.15) Per Share, Jefferies Financial Group Forecasts (NASDAQ:MAT) – Mitchell Messenger

WBC JEF +1 more WBC JEF MAT

Mattel Inc (NASDAQ:MAT) – Equities researchers at Jefferies Financial Group dropped their FY2020 earnings per share (EPS) estimates for shares of Mattel in a report released on Monday, November 18th, according to Zacks Investment Research. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.18. Finally, Stifel Nicolaus decreased their price target on shares of Mattel from $14.00 to $13.50 and set a “hold” rating on the stock in a research report on Tuesday, October 1st. Bank of New York Mellon Corp now owns 3,577,323 shares of the company’s stock worth $40,102,000 after acquiring an additional 1,117,677 shares during the period.

Read Full Details

Topics:
  • Business
  • Financial

Thursday, November 28


News

Scandal-Hit Westpac to Refund Some Buyers of New Shares

WBC

SYDNEY — Australia's Westpac Banking Corp offered to refund people who bought new shares weeks before a lawsuit accusing it of millions of breaches of money laundering laws, a move some investors said was to fend off criticism about its transparency. The country's oldest and second-largest bank has been in crisis since the financial crime watchdog, AUSTRAC, last week accused it of enabling 23 million payments in violation of anti-money laundering laws, including between known child exploiters. "Following discussions with ASIC, Westpac will provide a withdrawal option for (investors) who applied for shares under the Share Purchase Plan prior to the AUSTRAC announcement on 20 November 2019," the bank said in a statement. "It seems to me like they might be trying to get ahead of a class action," said Rod Bristow, CEO of Clime Asset Management, which holds Westpac shares and participated in the capital raising. ASIC has said it is investigating Westpac, while a law firm has said it is preparing to file a class action lawsuit against the bank accusing it of falling short of its continuous disclosure obligations.

Read Full Details

Story Sources

nytimes.com oann.com
Topics:
  • Business
  • Financial
News

Australia's Westpac to refund people who bought shares before money laundering bombshell

WBC

SYDNEY (Reuters) - Australia's Westpac Banking Corp offered to refund investors who bought new shares weeks before a bombshell lawsuit accusing it of millions of breaches of money laundering laws, a rare step to fend off criticism about its transparency. The country's oldest and second-largest bank has been in crisis since the financial crime watchdog, AUSTRAC, last week accused it of enabling 23 million payments in violation of anti-money laundering laws, including between known child exploiters. On Thursday, the lender said it would pay back retail shareholders who bought A$500 million ($340 million) of new stock two weeks earlier, giving no reason for the move other than to say it came after talks with corporate regulator the Australian Securities and Investments Commission (ASIC). "Following discussions with ASIC, Westpac will provide a withdrawal option for (investors) who applied for shares under the Share Purchase Plan prior to the AUSTRAC announcement on 20 November 2019," the bank said in a statement.

Read Full Details

Topics:
  • Business
  • Financial

Wednesday, November 27


News

AUD/USD and NZD/USD Fundamental Daily Forecast – Westpac Predicts Two RBA Rate Cuts, QE in 2020

WBC

The tight trading range this week suggests many of the major players are on the sidelines ahead of the U.S. bank holiday on Thursday. The cash rate is currently at a record low of 0.75% after three cuts of 25 basis points since June this year. The revised outlook followed a speech by Reserve Bank of Australia (RBA) Governor Philip Lowe on Tuesday, in which he said he did not expect to have to use QE in Australia, but that it could happen if the cash rate was cut to 0.25%. “Westpac has always argued that monetary easing will be necessary in 2020 but assessed that the RBA would see 0.5% as the effective lower bound.”.

Read Full Details

Topics:
  • Business
  • Financial
News

Pressure mounts on Australia's Westpac board over money-laundering scandal

WBC NAB +1 more WBC NAB TRI

SYDNEY (Reuters) - Australia's Westpac Banking Corp <WBC.AX> came under mounting pressure on Wednesday to refresh it board after a money-laundering scandal claimed its chief executive and chairman. Proxy adviser CGI Glass Lewis recommended shareholders vote against director Peter Marriott at the annual general meeting on Dec. 12 as he had been on the board since the payments at the centre of the scandal began in 2013. Westpac, Australia's oldest and second-biggest bank, has been in turmoil since the country's financial crime watchdog filed a lawsuit last week accusing it of enabling 23 million breaches of anti-money laundering and terrorism financing laws, including payments between known child exploiters. Activist investor the Australasian Centre for Corporate Responsibility, which holds Westpac shares, has already said it would vote against the board's remuneration package at the AGM. If owners of more than a quarter of the company's shares vote against its executive pay plans, as they did in 2018, they can call for the entire board to be removed under Australia's "two strike" law.

Read Full Details

Topics:
  • Business
  • Financial
News

Westpac shareholders call for more heads to roll over money-laundering scandal

WBC

SYDNEY (Reuters) - Two of Australia's top shareholder proxy advisers on Wednesday urged investors to vote out more directors of Westpac Banking Corp (WBC.AX) after a money-laundering scandal claimed the CEO and chairman of the country's No.2 retail bank. The country's oldest bank holds its annual meeting on Dec. 12, and has already said the chairman of its risk and compliance committee, Ewen Crouch, will not seek re-election after the lawsuit from financial crime watchdog AUSTRAC last week. Proxy adviser CGI Glass Lewis said it would also recommend shareholders vote against director Peter Marriott, a former chief financial officer of Australia and New Zealand Banking Group (ANZ.AX), as he had been on the board since 2013 when the payments at the centre of the scandal began. Hartzer's departure effective from Dec. 2 made Westpac the third of Australia's four-biggest banks to lose its top executive in the past 18 months, following a series of scandals and a damaging public inquiry which found systemic industry misconduct. If owners of more than a quarter of an Australian company's shares vote against its executive pay plans at its AGM, as they did for Westpac in 2018, they can call for the entire board to be removed under Australia's "two strike" law.

Read Full Details

Topics:
  • Business
  • Financial
News

Australia's Westpac cut from home-loan scheme as scandal fallout spreads: The Australian

WBC NAB

Australia's Westpac cut from home-loan scheme as scandal fallout spreads: The Australian. SYDNEY (Reuters) - Australia's Westpac Banking Corp <WBC.AX> lost a bid to supply loans to a government home-deposit assistance scheme in a blow to its main income generator as it battles a money-laundering scandal, The Australian newspaper reported on Wednesday. Australia's four biggest banks - which are in a bare-knuckle fight for mortgage business amid declining profitability and rising costs - applied for two positions on a panel of lenders for the nationwide home-affordability scheme from Jan. 1, 2020, but Westpac now expected to be excluded, the newspaper reported citing unnamed Westpac sources. The snub highlights the reputational risk now attached to Westpac after Australia's financial crime watchdog last week sued the lender for allegedly enabling 23 million transactions that breached anti-money laundering and terrorism financing laws, including offshore payments between known child exploiters.

Read Full Details

Topics:
  • Business
  • Financial

Tuesday, November 26


News

Australian shares rise for third session as Westpac gains on CEO exit

WBC

Nov 26 (Reuters) - Australian shares rose for a third session on Tuesday, boosted by a lift in Westpac Banking Corp's stock after its chief executive stepped down amid a money laundering scandal. The S&P/ASX 200 index gained 0.7% to close at 6,777.8, also buoyed by growing optimism of a deal to end a long-running U.S.-China trade war. Chief Executive Brian Hartzer will depart on Dec. 2, while chairman Lindsay Maxsted brought forward his own retirement to the first half of next year as Westpac grapples with the fallout from being charged by regulator AUSTRAC with millions of breaches of money laundering rules. Elsewhere, petrol pump and convenience store operator Caltex Australia closed 13.4% higher, slightly lower than its session high after it said Canada's Alimentation Couche-Tard Inc sweetened its takeover approach with a A$8.61 billion offer.

Read Full Details

Topics:
  • Business
  • Financial