9% Gross Dividend for ANZ

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ANZ CEO Shayne Elliot commenting on the full year result says “Retail banking in Australia faced strong headwinds with housing growth slowing and borrowing capacity reducing.” The short term outlook expects these challenges are likely to continue.

However, compared to Commonwealth Bank, NAB, and Westpac, ANZ appears to be in a comparably good financial position with its CET1 ratio at 11.4% at the end of FY18.

An investment into ANZ is ultimately an investment in the housing market, and despite a 9% grossed up dividend, its likely that in the short term prices will continue to decline. Therefore, be patient and  keep an eye on ANZ into the new year.

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