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Last $21.68 USD
Change Today +0.73 / 3.48%
Volume 268.8K
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

westpac banking corp-sp adr (WBK) Key Developments

Westpac Banking Announces Final Dividend Payable on or about September 23, 2015

Westpac Banking Corporation announced a final dividend of $0.9510 per security payable on or about September 23, 2015. Record date is September 04, 2015. Ex-distribution/Entitlement date is September 02, 2015.

Westpac Launches Westpac Capital Notes 3 Offer

Westpac Banking Corporation announced the offer of Westpac Capital Notes 3 (“Notes”), which are expected to be quoted on the ASX. The notes are being offered with an Issue Price of $100 each, to raise approximately $750 million, with the ability to raise more or less. The notes will qualify as Additional Tier 1 Capital under the Australian Prudential Regulation Authority's ('APRA') Basel III capital adequacy framework and will further strengthen the Group's overall capital position. The proceeds received under the offer will be used by Westpac for general business purposes. The offer is expected to open on 6 August 2015. There is no general public offer. The closing date for the security holder offer is expected to be 5.00pm (Sydney time) on 1 September 2015 and the closing date for the broker firm offer is expected to be 10.00am (Sydney time) on 7 September 2015. Key features of Westpac Capital Notes 3: Non-cumulative floating rate distributions, paid quarterly in arrear, beginning on 22 December 2015. Distributions are expected to be fully franked. Distributions are subject to the satisfaction of the distribution payment conditions, which include that Distributions are at Westpac’s absolute discretion. The distribution rate is determined quarterly as the sum of the 90 day Bank Bill Rate per annum plus a fixed margin per annum, together multiplied by (1 - Tax Rate). The margin is expected to be in the range of 4.00% to 4.20% per annum and will be determined under the Bookbuild. Perpetual with no fixed maturity date. However, notes may be converted, redeemed or transferred. Scheduled to convert into ordinary shares on 22 March 2023 (subject to the scheduled conversion conditions being satisfied). Notes may, at Westpac’s option, be converted (subject to certain conditions), redeemed (if APRA gives its prior written approval) or transferred: on 22 March 2021 (in respect of some or all Notes); or following a tax event or regulatory event (in respect of all Notes). Westpac must convert some or all of the notes into ordinary shares immediately upon a capital trigger event or a non-viability trigger event. The number of ordinary shares that holders receive in these circumstances is limited to a maximum number (as required by APRA) and Holders may suffer loss as a consequence. If conversion does not occur for any reason, all rights attaching to the Notes will be terminated and the investment will lose all of its value.

Westpac Group Appoints Tom Boyles as New Chief Customer Officer

Westpac Group announced the appointment of Tom Boyles to the newly created role of Chief Customer Officer. Boyles joins the company from the Walt Disney Company, where he is Senior Vice President, Global Customer Managed Relationships and Travel Operations for Walt Disney Parks and Resorts. In his current role, Boyles is responsible for Disney's "customer first" strategy, which has used innovative technology to create personalised customer experiences and significantly increase trust in the Disney brand. Boyles will be responsible for marketing, customer relationship management, digital strategy, and helping to drive the Service Revolution across the bank's suite of brands, including the company, St.George, Bank of Melbourne, BankSA and RAMS.

Westpac Banking Corporation Announces Amendment to the Distribution of SPDR S&P/ASX 200 Fund

Westpac Banking Corporation announced amendment to the previously announced distribution. As a result of the SPDR S&P/ASX 200 Fund amending their distribution, the company is amending the previously announced distribution payable on the SFIs listed below from $0.7197 per security to $0.7100 per security. The dividend will be paid on July 9, 2015 with the record date of June 30, 2015 and the ex-distribution/entitlement date is June 26, 2015.

Westpac Banking Corporation Announces Ordinary Dividend for Period Ending September 23, 2015, Payable on September 23, 2015

Westpac Banking Corporation announced fully franked ordinary dividend of AUD 0.91870000 per share for period ending September 23, 2015. The dividend will be payable on September 23, 2015 wit the record date of September 15, 2015. Ex-date is September 11, 2015.


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Valuation WBK Industry Range
Price/Earnings 12.1x
Price/Sales 4.5x
Price/Book 1.8x
Price/Cash Flow 11.8x
TEV/Sales NM Not Meaningful

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