Why Westpac Banking Corp (ASX:WBC) shares are down 4% today

The Westpac Banking Corp (ASX: WBC) share price has weighed heavily on the market on Thursday.

In afternoon trade the banking giant’s shares are down 4% to $29.00.

Why are Westpac’s shares sinking lower?

Don’t worry, there isn’t another Royal Commission bombshell leading to a selloff today.

Almost the entirety of Westpac’s decline today can be attributed to the bank’s shares going ex-dividend this morning.

Eligible shareholders can now look forward to receiving Westpac’s interim fully franked dividend of 94 cents per share in their accounts on July 4.

Westpac is the last of the big four banks to go ex-dividend for interim payouts following Australia and New Zealand Banking Group (ASX: ANZ) on Monday and National Australia Bank Ltd. (ASX: NAB) on Tuesday.

Commonwealth Bank of Australia (ASX: CBA), which operates over a different financial period, paid its interim dividend to shareholders in March of this year.

OUR #1 dividend pick to grow your wealth over the new financial year is revealed for FREE here!

Financial year 2018 is here and The Motley Fool’s dividend detective Andrew Page has revealed his must buy dividend share to grow your wealth in 2018.

You might not know this market leader's name, but it's rapidly expanding into a highly profitable niche market here in Australia. Even better, the shares boast a strong, fully franked dividend that should balloon in the years to come. In other words, we're looking at the holy grail of incredible long-term growth potential AND income you can watch accruing in your account in real time!

Simply click here to grab your FREE copy of this up-to-the-minute research report on our #1 dividend share recommendation now.

Motley Fool contributor Motley Fool Staff has no position in any stocks mentioned. Motley Fool contributor James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia owns shares of National Australia Bank Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The 5 mining stocks we’re recommending in 2019…

For decades, Australian mining companies have minted money for individual investors like you and me. But if you believe the pundits and talking heads on TV, those days are long gone. Finito! Behind us forever…

We say nothing could be further from the truth. To earn the really massive returns, you’ve got to fish where others aren’t fishing—and the mining sector could be primed for a resurgence. That’s why top Motley Fool analysts just revealed their exciting new research on 5 ASX miners they believe could help you profit in 2019 and beyond…


The best way we see to play the global zinc shortage… Our #1 favourite large-cap miner (hint: it’s not BHP)… one early-stage gold miner we think could hit the motherlode… Plus two more surprising companies you probably haven’t heard of yet!

For free access to our brand-new research, simply click here or the link below. But be warned, this research is available free for a limited time only, and we reserve the right to withdraw it at any time.

Click here for your FREE report!