National Australia Bank trades ex-dividend, yields 5.5%

Big four bank and S&P/ASX 200 heavyweight National Australia Bank (ASX: NAB) trades ex-dividend today.

On October 29th, the company reported a 9% increase in cash earnings and a final dividend of 97 cents per share, fully franked, bringing the total dividend for the full year to $1.90, a 5.5% increase on the prior year.

The 97 cent fully franked dividend will be paid on 18 December 2013 to NAB shareholders on the register at the close of business on 13 November 2013.

NAB shares have fallen $1.19 in morning trade to $34.70 (97 cents being the ex-dividend), and trade on a trailing dividend yield of 5.5%. By comparison, fellow big four bank Westpac Banking Corp (ASX: WBC) trade on a trailing dividend yield of 5.6%.

Bruce Jackson has an interest in Westpac Banking Corp

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