A Comprehensive Guide to the Westpac Dividend Dates: FY23 Highlights and Future Prospects
Investors holding Westpac Banking Corp (ASX: WBC) shares are eagerly anticipating their FY23 final dividend payment following the release of the bank’s FY23 report.
The bank experienced a successful period, reporting a remarkable 26% increase in net profit after tax (NPAT) to $7.2 billion. Contributing to this success, the net interest margin (NIM) saw a 2 basis points (0.02%) improvement to 1.95% in the higher interest rate environment, and loans increased by 5% to $773 billion.
Westpac’s Dividend Growth:
In a positive move, the Westpac board declared a final dividend of 72 cents per share, marking a substantial 12.5% increase compared to the FY22 final dividend. This decision brought the full-year dividend to $1.42 per share, reflecting a notable 14% increase from the prior corresponding period.
Westpac also reported a significant growth in earnings per share (EPS) by 28% to $2.05, resulting in a dividend payout ratio of approximately 69%. Additionally, the bank announced a $1.5 billion share buyback, enhancing the return to shareholders from the excess capital on its balance sheet.
Understanding the Dividend Yield:
The dividend yield is influenced by both the size of the dividend and the share price. With the current Westpac share price just over $22, the annual $1.42 dividend per share payout translates to a cash dividend yield of 6.4% and a grossed-up dividend yield of 9.1%.
Even in the face of a higher interest rate environment, Westpac shares continue to offer a more attractive yield compared to available term deposits.
Dividend Payment Timeline:
Westpac shares will go ex-dividend on November 9, 2023, giving investors until the end of trading on November 8, 2023, to invest in the ASX bank share and be entitled to the upcoming dividend. The payment date is set for December 19, 2023, less than a month and a half away, when owners of Westpac shares will receive their dividend.
For those interested in the dividend reinvestment plan (DRP), where new shares are received instead of a cash payment, the DRP election date cut-off is November 13, 2023, at 5 pm.
Westpac Share Price Snapshot:
Since the beginning of 2023, the Westpac share price has experienced a modest decline of over 2%, while the S&P/ASX 200 Index (ASX: XJO) has risen by 0.8%.
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Westpac is Australia’s first and oldest bank, one of four major banking organisations in Australia, and one of New Zealand’s largest banks. Through a portfolio of financial services brands and businesses, Westpac offers a wide range of consumer, business, and institutional banking and wealth management services. The company was founded in 1817 as the Bank of New South Wales and changed its name to Westpac Banking Corporation in 1982. For over 200 years, we have played an important role in Australia’s economic and social fabric. This post will go over Westpac dividend dates 2022 and WBC dividend history.
Westpac Dividend Dates 2022
| Sector | Market Cap ($m) | Distribution Type | Dividend | Franking | Ex-dividend date | Payment date | Current Price | Price 7D Avg | Dividend Yield |
|---|---|---|---|---|---|---|---|---|---|
| Financials | $74,504 | Result | 61¢ | 100% | 19 May 2022 | 24 Jun 2022 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 60¢ | 100% | 5 Nov 2021 | 21 Dec 2021 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Result | 58¢ | 100% | 13 May 2021 | 25 Jun 2021 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 31¢ | 100% | 11 Nov 2020 | 18 Dec 2020 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 80¢ | 100% | 12 Nov 2019 | 20 Dec 2019 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Result | 94¢ | 100% | 16 May 2019 | 24 Jun 2019 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 94¢ | 100% | 13 Nov 2018 | 20 Dec 2018 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Result | 94¢ | 100% | 17 May 2018 | 4 Jul 2018 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 94¢ | 100% | 13 Nov 2017 | 22 Dec 2017 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Result | 94¢ | 100% | 18 May 2017 | 4 Jul 2017 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 94¢ | 100% | 14 Nov 2016 | 21 Dec 2016 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Result | 94¢ | 100% | 12 May 2016 | 4 Jul 2016 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 94¢ | 100% | 11 Nov 2015 | 21 Dec 2015 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Result | 93¢ | 100% | 13 May 2015 | 2 Jul 2015 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | H F Result | 92¢ | 100% | 10 Nov 2014 | 19 Dec 2014 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Result | 90¢ | 100% | 14 May 2014 | 2 Jul 2014 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Final | 98¢ | 100% | 8 Nov 2013 | 19 Dec 2013 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Interim | 96¢ | 100% | 13 May 2013 | 2 Jul 2013 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Final | 84¢ | 100% | 9 Nov 2012 | 20 Dec 2012 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Interim | 82¢ | 100% | 14 May 2012 | 2 Jul 2012 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Final | 80¢ | 100% | 7 Nov 2011 | 19 Dec 2011 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Interim | 76¢ | 100% | 16 May 2011 | 4 Jul 2011 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Final | 74¢ | 100% | 8 Nov 2010 | 20 Dec 2010 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Interim | 65¢ | 100% | 17 May 2010 | 2 Jul 2010 | $21.280 | $21.800 | 5.69% |
| Financials | $74,504 | Final | 60¢ | 100% | 9 Nov 2009 | 21 Dec 2009 | $21.280 | $21.800 | 5.69% |
Summary of Westpac dividends
The following are examples: Westpac Banking Corp’s dividend is timetabled to be reported in 2 months and paid in 4 months.
The most latest Westpac Banking Corp dividend was 61c, which went ex 3 months ago and was paid 2 months ago.
Except for special dividends, there are usually two dividends paid each year, with a profit cover of around 1.0.
Ex-dividend date of Westpac (WBC) 2022
| Financial Half Year end | 31 March 2022 |
| Interim results and dividend announcement | 9 May 2022 |
| The ex-dividend date for the interim dividend | 19 May 2022 |
| The record date for the interim dividend | 20 May 2022 |
| Interim dividend payable | 24 June 2022 |
| June Pillar 3 to be released | 15 August 2022 |
| Financial Year end | 30 September 2022 |
| Closing date for receipt of director nominations before Annual General Meeting | 26 October 2022 |
| Final results and dividend announcement | 7 November 2022 |
| Ex-dividend date for final dividend | 17 November 2022 |
| Record date for final dividend | 18 November 2022 |
| Annual General Meeting | 14 December 20221 |
| Final dividend payable | 20 December 2022 |
WBC Basic Information
| ASX Code | WBC |
| Website | http://www.westpac.com.au |
| GICS Sub-Industry | Diversified Banks |
| Market Cap ($M) | 74,503 |
| WBC Share Price | $21.280 |
| Day High | $21.450 |
| Day Low | $21.280 |
| Last Close | $21.270 |
| WBC Share Price Movement | $0.01 ( 0.05% ) |
WBC dividend dates
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