Three of the big four bank released their half year results earlier this month and declared their respective interim dividends.
These are arguably the most sought after dividends on the local share market and will be paid to eligible shareholders in the near future. This means you’ll have to act fast if you want to receive them.
Australia and New Zealand Banking Group (ASX: ANZ)
In the first half of FY 2019 ANZ posted a 2% increase in cash profit from continuing operations to $3,564 million. A key driver of this profit growth was a reduction in operating expenses. They decreased by $108 million thanks to a reduction in staff numbers, lower restructuring expenses, and a reduction in expenses following asset sales. This allowed the ANZ board to declare a fully franked interim dividend of 80 cents per share, which will be paid to shareholders on July 1. Its shares will trade ex-dividend for this on Monday May 13, meaning you’ll need to be an owner of its shares when the market closes today to be entitled to it.
National Australia Bank Ltd (ASX: NAB)
NAB had a disappointing first half, leading to it posting a 0.3% decline in cash earnings (excluding restructuring-related costs & customer-related remediation) to $3,279 million. Its Consumer Banking & Wealth segment was a major drag on its performance during the half, posting a 20.6% decline in cash earnings to $638 million. This underperformance and its need to improve capital generation led to the NAB board cutting the bank’s interim dividend by 16% to a fully franked 83 cents per share. Its shares will trade ex-dividend on Tuesday May 14, meaning you’ll have to be on the share registry at the close of play on Monday if you want to be paid this dividend on July 3.
Westpac Banking Corp (ASX: WBC)
Australia’s oldest bank posted a cash profit of $3.3 billion during the first half of FY 2019, which was a 22% decline on the prior corresponding period. During the half the bank’s bottom line was impacted by ~ $750 million in remediation and restructuring items. Despite this drop in profits, the bank maintained its fully franked 94 cent per share interim dividend. Westpac’s shares are due to trade ex-dividend on Thursday May 16, so you’ll need to own its shares when the market closes on Wednesday if you want to receive this dividend on June 24.
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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.