Westpac Banking Corp (ASX: WBC) released its eagerly anticipated half-year results this morning and has declared its latest interim dividend.
Here is what investors need to know.
Westpac’s half-year results
As a reminder, Westpac released a solid half-year result that showed earnings growth and a strong capital position.
The bank reported statutory net profit of $3.4 billion, up 3% on the first half of FY 2025 but down 5% on the second half. Net profit excluding notable items came in at $3.5 billion, up 1% on the prior corresponding period and down 1% on the previous half.
Westpac also ended the half with a CET1 capital ratio of 12.4%, which is above its target ratio of 11.25% in normal operating conditions.
Commenting on the half, Westpac CEO Anthony Miller said:
This half, we’ve delivered solid operating momentum while investing for the future. Our strong balance sheet and disciplined focus will allow us to support customers through global uncertainty.
He also noted that growth was solid across lending and deposits, saying:
Growth is solid across lending and deposits, with several highlights. We grew Australian mortgages, excluding RAMS, in the half at 1.2x system, with the proportion of new first party lending increasing. We are supporting Australian businesses with lending up across both business and institutional over the past year. At the same time we are managing costs, which are down from the prior half.
The Westpac dividend
In light of this performance, the Westpac board declared a fully franked interim ordinary dividend of 77 cents per share.
This was flat on the previous half but an increase of 1.3% on last year’s interim dividend, and represents a payout ratio of 77.1%.
Westpac shares are scheduled to trade ex-dividend for this payout on 8 May 2026.
The ex-dividend date is when investors need to own the shares before to qualify for the dividend.
If an investor buys Westpac shares on or after the ex-dividend date, they will not receive this interim dividend. Instead, the seller keeps the entitlement.
When will the dividend be paid?
The good news is that investors won’t have to wait too long for payment.
Westpac advised that the interim dividend is scheduled to be paid next month on 26 June 2026.
The bank’s dividend reinvestment plan (DRP) will apply to this dividend. However, unlike the National Australia Bank Ltd (ASX: NAB) DRP, Westpac’s will not include a discount.
The post Everything you need to know about the latest Westpac dividend appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.