In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on track to record another gain. At the time of writing, the benchmark index is up 0.25% to 7,286.2 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are pushing higher:

AMP Ltd (ASX: AMP)

The AMP share price is up 5% to $1.06. Investors have been buying the financial services company’s shares following the release of its full year results. For the 12 months ended 31 December, AMP recorded a loss of $252 million. However, this was due to previously announced impairment charges, which were mainly non-cash write-downs. Things were much better on an underlying basis, with net profit after tax increasing 53% to $356 million.

AVZ Minerals Ltd (ASX: AVZ)

The AVZ share price is up 2.5% to 87.5 cents. This morning the lithium explorer advised that it has committed to invest $25 million to advance its drilling program at Roche Dure and early works program for the Manono Lithium and Tin Project in the Democratic Republic of the Congo. This will be supported by the funds received from the recent $75 million capital raising.

Megaport Ltd (ASX: MP1)

The Megaport share price has jumped 8% to $14.70. This appears to have been driven by the release of a number of bullish broker notes this morning. For example, in response to its half year results, Macquarie has retained its outperform rating and lifted its price target to $21.00. Megaport is the broker’s top pick in the tech sector.

National Australia Bank Ltd (ASX: NAB)

The NAB share price is up 4.5% to $29.64. This follows the release of a better than expected first quarter update from the banking giant. For the three months ended 31 December, NAB delivered a 12% increase in cash earnings to $1.8 billion. This was 13.2% ahead of Bell Potter’s estimate of $1.59 billion and is run-rating 6% ahead of what is implied by Goldman Sachs’ first half forecasts.

The post Why AMP, AVZ, Megaport, and NAB shares are pushing higher appeared first on The Motley Fool Australia.

More reading

• NAB (ASX:NAB) share price jumps after scintillating quarter
• Are Megaport (ASX:MP1) shares a buy after smashing earnings? See what these brokers say
• Shareholders are happy with the NAB (ASX:NAB) earnings beat. But what do analysts say?
• ASX 200 (ASX:XJO) midday update: NAB impresses, ASX CEO to retire before CHESS replacement completes
• What are brokers expecting for ASX tech shares this earnings season?

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. owns and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Infinity Lithium Corporation Ltd (ASX: INF) share price is racing higher today. This follows the lithium explorer’s announcement regarding increased production volumes at the San José lithium project in Spain.

At the time of writing, Infinity shares are up 19.35% to 19 cents apiece.

Infinity scales up battery grade lithium chemicals

In its statement, Infinity advised is has significantly ramped up production quantities of battery-grade lithium carbonate and hydroxide.

This was achieved following completion of metallurgical test work at Dorfner Anzplan’s facilities in Germany.

In June 2020, Infinity entered into a project agreement with EIT InnoEnergy to develop a sustainable, novel, and innovative sulphate roast process.

EIT InnoEnergy is supported by the European Institute of Innovation and Technology (EIT), which is a body of the European Union.

The production of battery-grade lithium chemicals was successfully achieved under the guidance of recognised lithium industry experts and members of the Infinity Technical Advisory Committee.

Approximately 0.8 kilograms of battery-grade lithium hydroxide was retained by Infinity for verification purposes and advancement of offtake discussions.

The next stage will progress locked cycle test work and the engineering design criteria for the project feasibility study.

Infinity’s tranche 3 funding under the project agreement is expected to be committed upon completion of reporting and verification.

In addition, the company noted that provisional patents covering the novel aspects of the sulphate roast process flowsheet are expected to advance.

Commenting on the news fuelling the Infinity Lithium share price, CEO and managing director Ryan Parkin said:

The production of battery-grade lithium hydroxide in the scale-up phase has highlighted the successful implementation of the innovative sulphate roast process in alignment to key EU ESG principles.

We are looking forward to broadening discussions with end users in the progression of a fully integrated lithium-ion battery supply chain in Spain and the EU.

About the Infinity Lithium share price

Despite today’s strong gains, the Infinity Lithium share price has plummeted 16% since this time last year.

It has been a rollercoaster ride for investors as the company’s 52-week range is between 5.9 cents and 26 cents.

At today’s price, Infinity Lithium commands a market capitalisation of around $75.7 million, with more than 414.82 million shares outstanding.

The post Infinity Lithium (ASX:INF) share price charges 19% higher on production news appeared first on The Motley Fool Australia.

More reading

• The best cryptocurrency exchanges for Australians
• Is the ANZ (ASX:ANZ) share price in the buy zone following its Q1 update?
• ASX Ltd (ASX:ASX) share price sneezes despite robust first-half results as CEO says sayonara
• Here’s why the Boss Energy (ASX:BOE) share price is racing 8% higher today
• Nickel Mines (ASX:NIC) share price slides despite ‘clear endorsement’

Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.

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Much has been written about Australians investing in cryptocurrencies at a rapid rate the past couple of years.

But the platform they choose to trade on has seen relatively subdued discussion.

Yet this would be the first question anyone wanting to enter the crypto world for the first time. Where do I go?

Recently comparison site Finder did all the legwork and tried to come up with an answer.

The result was the awarding of the first-ever Cryptocurrency Exchange Awards.

And the winners are…

Multinational platform Binance was the big winner from Finder’s analysis, taking out three of the six awards.

The exchange won “best Australian cryptocurrency exchange overall”, “best exchange for features”, and “best exchange for altcoins”.

Altcoins are emerging currencies that are outside of the major players like Bitcoin (CRYPTO: BTC) and Ethereum (ASX: ETH). 

Crypto.com, which has been mocked online for its TV advertisements featuring movie star Matt Damon, was ranked the best exchange for beginners.

According to Finder consumer research head Graham Cooke, digital currencies had permeated the national consciousness much more in Australia than in other regions.

Cooke says, “85% of Aussies say they know what cryptocurrency is, much higher than countries like the United States (59%) and the United Kingdom (55%).”

“Cryptocurrency ownership is on the rise, so it’s important Australians are comparing the various products out there and making sure they’re choosing the right exchange for them.”

The other two winners from Finder’s inaugural honours were Kraken as the best platform for trading, and Digital Surge as the best exchange for value.

The award winners were calculated using a quantitative approach, taking into account features and fees.

Selection of crypto exchange as important as choice of crypto

No doubt an expert ranking of crypto exchanges could prove useful for investors, especially after recent news of platforms wiping out investors’ wealth.

In December, The Motley Fool reported that customers of both myCryptoWallet and ACX were in a panic after their investments disappeared along with the exchanges.

One user told The Sunday Age at the time that he had used ACX for three years without any problems. Then, without warning, withdrawals were blocked.

“I had no suspicion that it was a scam or anything like that. I was buying and selling, everything was functioning the way I thought it should function,” he said.

“It’s become obvious since then that there’s been some sort of wrongdoing.”

The post The best cryptocurrency exchanges for Australians appeared first on The Motley Fool Australia.

More reading

• $3.6 billion crypto heist thwarted, sending this obscure cryptocurrency skyrocketing
• This global financial giant is buying up Bitcoin. Could ASX banks be next?
• Why Bitcoin and Ethereum Were Up Big Today
• Bitcoin price rally fuels outsized gains amongst top altcoins
• Why Bitcoin, Ethereum, Polkadot, and Solana jumped this weekend

Motley Fool contributor Tony Yoo owns Bitcoin and Ethereum. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia owns and has recommended Bitcoin and Ethereum. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Australia and New Zealand Banking GrpLtd (ASX: ANZ) share price has been a decent performer this week.

Since the end of last week, the banking giant’s shares have risen over 2%.

This means the ANZ share price is now up 11% over the last 12 months. This compares favourably to the ASX 200’s gain of 6% over the same period.

Can the ANZ share price go higher?

One leading broker has been running the rule over ANZ’s quarterly update from earlier this week.

And while it has trimmed its price target, it still sees decent upside ahead for the ANZ share price.

According to the note out of Morgans, its analysts have put an add rating and $30.00 price target on the bank’s shares.

Based on the current ANZ share price, this implies potential upside of almost 9% for its shares before dividends. And with Morgans forecasting a fully franked $1.41 per share dividend in FY 2022, the total return improves to approximately 14%.

What did the broker say?

Morgans wasn’t overly impressed with ANZ’s update but appears to have seen enough in it to maintain its add rating.

In respect to margins, it commented: “ANZ’s NIM, excluding Markets and notable items, contracted 5bps from 2H21 to 1Q22. The largest driver of this contraction is New Zealand home loan pricing, which we believe is the result of swap rates increasing faster than the interest rate increases on NZ fixed rate mortgages thus far.”

On the plus side, the broker notes that “ANZ’s update appears to support the view that the asset mix headwind from an increasing proportion of fixed rate home lending in Australia may now have peaked” and that the bank “appears to be experiencing less pressure on its Australian NIM relative to peers.” Though, it concedes that the latter could be due to ANZ “not achieving much growth in its Australian home loan book.”

Another positive that Morgans highlights is the bank’s capital position. It believes ANZ will have a significant capital surplus at the end of the year, which could bode well for share buybacks.

It commented: “ANZ has today said that its capital position continues to provide flexibility to return further surplus capital and ANZ is considering increasing the size of the current on-market buyback. We are forecasting ANZ to have surplus CET1 capital of ~$5bn at end-FY22F.”

The post Is the ANZ (ASX:ANZ) share price in the buy zone following its Q1 update? appeared first on The Motley Fool Australia.

More reading

• 2 ASX shares to rise with higher interest rates
• Rising tide? Here’s why ASX 200 bank shares are having such a good run today
• This global financial giant is buying up Bitcoin. Could ASX banks be next?
• Travel soars, ANZ falters, Magellan sinks. Scott Phillips on Nine’s Late News
• Why Appen, ANZ, Magellan, and REA shares are falling

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 Bruce Jackson.

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The ASX Ltd (ASX: ASX) share price is coming under pressure today as investors thumb through the exchange operator’s latest half-year numbers.

Shares in ASX Ltd opened at $86.02, a slight decrease from its previous close. The ASX share price has since remained mostly on a downwards trajectory and is now trading 5.1% lower at $82.29.

ASX share price weakens on strengthening metrics

Highlights of the first-half report are as follows:

• Operating revenue up 6.6% from prior corresponding period to $501.4 million
• Earnings before interest and tax up 6% to $338.4 million
• Net profit after tax (NPAT) increased 3.5% to $250.3 million
• Interim dividend raised 3.5% to 116.4 cents per share fully-franked
• All time record $90 billion of capital raised through the ASX in the first half
• Second highest number of initial public offerings (IPO) on record at 150.

What else happened during the half?

While ASX Ltd revealed robust half-year results, the operational and financial metrics appear to be overshadowed by today’s announcement of the CEO’s retirement.

First, let’s take a look at the numbers.

The ASX managed to deliver growth across revenue and earnings due, in part, to a solid half for listings activity. This involved a number of record, or near-record, figures across its listings segment. Notably, an all-time record of $90 billion was raised through the exchange during the period.

Activity	Metric	Change
Total capital raised	$90 billion	11.24%
Number of IPOs	150	76.5%
Listings revenue	$104.1 million	17%
Average traded value per day	$6.2 billion	5.7%

During the half, the ASX received word from the Australian Securities and Investments Commission (ASIC). In November 2021, the corporate watchdog handed down conditions for the ASX to abide by following the abrupt outage in 2020. The ASX share price waned on the news.

According to today’s release, the CHESS replacement system remains on track for deployment in April 2023. Upon launch, share settlement will be handled by blockchain technology using smart contracts.

ASX CEO makes a move for the door

Now, back to Dominic Stevens — ASX managing director and CEO — and his plans to retire. The departure could be behind the falling ASX share price today.

After six years as CEO, Stevens will make for the exit some time this year. During his tenure, the exchange operator has appreciated by roughly 60% in value.

Commenting on the announcement, ASX chair Damian Roche said:

Dominic is providing ample notice of his retirement plans for which we are grateful. This is typical of his foresight, and enables a smooth transition to the best possible successor at a time when ASX will be entering its next phase of growth and innovation.

A global search for his replacement is now underway.

ASX share price snapshot

Unfortunately for shareholders, the ASX share price has been baptised by fire in the new year. Currently, the company’s shares are 10.8% off where they were at the end of last year.

However, investors who picked up ASX Ltd shares 12 months ago are now sitting on a 15% gain. The company now boasts a market capitalisation of $16.78 billion.

The post ASX Ltd (ASX:ASX) share price sneezes despite robust first-half results as CEO says sayonara appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: NAB impresses, ASX CEO to retire before CHESS replacement completes
• Top brokers name 3 ASX shares to sell next week
• Top brokers name 3 ASX shares to sell next week

Motley Fool contributor Mitchell Lawler 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 Bruce Jackson.

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The Boss Energy Ltd (ASX: BOE) share price is rocketing today after the company announced it has entered into an agreement with Canadian-listed First Quantum Minerals Limited.

Following the announcement, Boss Energy shares jumped as high as 12.9% in morning trade on Thursday. At the time of writing, shares are up 8.61% at $2.27.

So, what did the miner announce? Let’s dive straight in.

Boss Energy’s new joint venture

This morning, the energy company announced it had entered into an “earn-in” exploration agreement alongside Canadian miner First Quantum Minerals.

Under the agreement, First Quantum Minerals will provide $6 million in base and precious metal exploration funding over five years in return for a 51% interest on any discoveries found. The agreement relates to five mining sites at the Honeymoon project.

But first, First Quantum Minerals will undertake an assessment of the area. Quantum has committed $250,000 towards an “exploration targeting and due diligence program,” which is now on deadline to be completed by 31 December.

After such time, First Quantum Minerals will either choose to go ahead with the agreement or pull out.

Boss Energy describes its South Australian site, the Honeymoon Uranium Project, as “one of the few uranium projects ready to participate in the early stages of the new uranium bull market.”

Commentary from management

In its announcement, Boss Energy describes First Quantum Minerals’ record of “discovering and developing deposits” positioning it as “an ideal partner in the exploration and potential development of any base or precious metal discoveries.”

Further, the release says:

The agreement enables Boss to remain fully-focused on its core business of uranium exploration, development and production while having exposure at no cost to the significant potential associated with a base and precious metals exploration program led by a global major.

Boss managing director Duncan Craib commented on today’s development:

This agreement is an outstanding opportunity for Boss and our shareholders.

We will have a global leader in FQM funding base and precious metals exploration at Honeymoon, giving Boss significant exposure to their success at no cost to us while we focus on our goal of becoming Australia’s next uranium producer.

Boss Energy share price snapshot

In the last 12 months, the Boss Energy share price has increased by an impressive 136%.

Based on its current share price, Boss has a market capitalisation of $596.65 and a price-to-earnings ratio (P/E) of 567.5.

The post Here’s why the Boss Energy (ASX:BOE) share price is racing 8% higher today appeared first on The Motley Fool Australia.

More reading

• Boss Energy (ASX:BOE) share price higher on ‘significant’ drilling results
• Why is the Boss Energy (ASX:BOE) share price dumping 5% today?
• Here’s why ASX uranium shares could be in for a boost

Motley Fool contributor Alice de Bruin 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 Bruce Jackson.

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The Nickel Mines Ltd (ASX: NIC) share price is sliding today amid the company completing the first stage of a capital raise.

The company’s shares are currently swapping hands for $1.44 apiece, a 1.03% fall on their previous close.

Let’s take a look at what the company announced today.

What did Nickel Mines announce?

Nickel Mines informed the market it has successfully completed stage one of a US$225 million (A$314 million) capital raise. The capital raise is being conducted to fund an initial 30% stake in the Oracle nickel project (ONI) in Indonesia.

The institutional placement raised about A$148 million. A total of 108.1 million new ordinary shares were placed on the market at $1.37 per share.

Capital raises can cause share prices to fall due to share dilution. Earnings per share may drop given earnings are spread over a greater number of shares.

Commenting on the first phase of the capital raise, managing director Justin Werner said:

We are extremely pleased to have completed the first phase of this capital raise process.

The strong support from both new and existing institutional investors is a clear endorsement of the company’s investment into the Oracle Nickel Project and the continuation of its track record for delivering value accretive transactions for its shareholders.

The second stage of the capital raise will involve a A$148 million non-underwritten placement to Shanghai Decent Investment or its nominee. Meanwhile, the third stage will involve a share purchase plan to raise A$18 million.

In December, Nickel Mines signed an agreement with Shanghai Decent to eventually acquire 70% interest in the ONI project. Shanghai Decent will be the lead design and construction partner in the project.

Werner added:

The ONI acquisition puts us on course to triple our nickel production profile from current levels by early 2023 and represents another important step in building Nickel Mines into a globally significant nickel producer.

Nickel Mines is a low-cost producer of nickel pig iron, used for the production of stainless steel.

Nickel Mines share price snap shot

The Nickel Mines share price has surged 22% over the past year. It is up 1.4% over the past month but down 2% over the past week.

For comparison, the S&P/ASX 200 Index (ASX: XJO) has returned 6% to investors in the past year.

This ASX share commands a market capitalisation of around $3 billion based on its current share price.

The post Nickel Mines (ASX:NIC) share price slides despite ‘clear endorsement’ appeared first on The Motley Fool Australia.

More reading

• ‘Building a Nickle Empire’: Nickel Mines (ASX:NIC) seizes future-facing nickel opportunities
• Here’s why the Nickel Mines (ASX:NIC) share price is on ice today
• These were the best performing ASX 200 shares last week
• Here are the top 10 ASX shares today
• Here are the top 10 ASX shares today

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 Bruce Jackson.

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The National Australia Bank Ltd (ASX: NAB) share price is having an excellent day on Thursday.

The banking giant’s shares are among the best performers on the ASX 200 with a gain of over 3% to $29.30.

This leaves the NAB share price trading within sight of its 52-week high of $30.30.

Why are investors bidding the NAB share price higher today?

The catalyst for the rise in the NAB share price on Thursday has been the release of the bank’s first quarter update.

And much like the update from rival Commonwealth Bank of Australia (ASX: CBA) yesterday, NAB’s update smashed the market’s expectations.

For the three months ended 31 December, NAB delivered an 8% increase in revenue over FY 2021’s second half quarterly average and a 12% increase in cash earnings to $1.8 billion.

It is the latter figure that has got investors and analysts most excited. Particularly given the margin pressures that NAB and the rest of the banks have been facing due to aggressive home loan competition. These pressures led to NAB’s net interest margin (NIM) declining by 5 basis points to 1.64% during the quarter.

But that couldn’t stop its earnings from smashing the market’s expectations.

NAB’s earnings smash expectations

For example, Bell Potter, which has been very bullish on the NAB share price, was only expecting cash earnings of ~$1.59 billion for the quarter. This means that NAB outperformed its estimates by over 13%.

It was a similar story over at Goldman Sachs. Its analysts have also been very positive on the bank, naming NAB as their top pick among the majors. But even they didn’t foresee such a strong quarter.

Goldman commented: “NAB has released its 1Q22 trading update, with unaudited cash earnings from continuing operations of A$1.80 bn, up 12% on the previous period average, run-rating 6% ahead of what is implied by our current 1H22E forecasts.”

The broker also highlights that management has reaffirmed its guidance for broadly flat expenses in FY 2022 despite reporting a 2% increase during the first quarter. Goldman feels this is still achievable given the bank’s habit of front-end loading its expenses.

Its analysts explained: “While cost growth of 2% came in above our expectations, and ahead of management’s “broadly flat in FY22” guidance, we note two things that leave us comfortable with our current expense forecasts: i) NAB has historically seen its cost growth front-end loaded into 1Q, and ii) management has explicitly reiterated its target.”

Can its shares keep rising?

Goldman Sachs currently has a conviction buy rating and $31.15 price target on the bank’s shares.

Based on the current NAB share price, this suggests potential upside of 6%. However, once the broker has adjusted its financial model, there’s every chance that it could bump up its valuation to reflect this better than expected performance. Stay tuned for that.

The post NAB (ASX:NAB) share price jumps after scintillating quarter appeared first on The Motley Fool Australia.

More reading

• Shareholders are happy with the NAB (ASX:NAB) earnings beat. But what do analysts say?
• ASX 200 (ASX:XJO) midday update: NAB impresses, ASX CEO to retire before CHESS replacement completes
• NAB (ASX:NAB) share price in focus after cash earnings smash analyst estimates
• 5 things to watch on the ASX 200 on Thursday
• Rising tide? Here’s why ASX 200 bank shares are having such a good run today

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 Bruce Jackson.

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Shares in Megaport Ltd (ASX: MP1) are charging higher in afternoon trade and now sit 7.8% up at $14.67 apiece.

Investors are piling into Megaport as momentum spills over from the tech player’s half-yearly results released yesterday.

Now analysts have chimed in with their opinions on Megaport’s results and the outlook for the share price in 2022.

What are analysts saying about Megaport?

Even though its half-year results were solid, analysts at Jefferies reckon Megaport might still struggle to hit its break even point this year.

Profit after direct costs is up almost 70% year on year to $30.9 million. Revenue is up 42% to $52 million. But the margins on these results isn’t sufficient for Megaport to break even on EBITDA in FY22. The broker says Megaport has to generate a gross profit margin of about 74% on 2H FY22 revenue to break even. And it doesn’t think it can get there.

In a note, Jefferies retains its neutral stance on Megaport and cuts its share price valuation by more than 3% to $15.10.

Meanwhile, analysts at Macquarie are heavily bullish on Megaport. It’s their top pick in the Australian tech universe.

In a note, the broker discussed the ASX tech sector and says it is shifting focus to more defensible names. It notes that Megaport’s margin run rate surpassed its revenue growth for the quarter, which boosted earnings.

Macquarie analysts are attracted to the company’s virtual-edge connectivity pipeline. They say this could potentially provide a stronger growth stream for Megaport than its cloud router segment. It lifted its target on the Megaport share price by 5% to $21 and urged clients to buy with an outperform rating.

JP Morgan and Morgans reduced their share price targets by 3% and 12% respectively after Megaport’s update.

Megaport share price snapshot

In the past 12 months, the Megaport share price gained 3.3%. The S&P/ASX 200 Index (ASX: XJO) gained 6%.

Year-to-date, Megaport is down 23.4% while the broader index is down 4.2%.

The post Are Megaport (ASX:MP1) shares a buy after smashing earnings? See what these brokers say appeared first on The Motley Fool Australia.

More reading

• ASX 200 (ASX:XJO) midday update: NAB impresses, ASX CEO to retire before CHESS replacement completes
• What are brokers expecting for ASX tech shares this earnings season?
• What’s got ASX 200 tech share Megaport (ASX:MP1) marching higher today?
• Own Megaport (ASX: MP1) shares? Here’s what to watch when the company reports tomorrow
• 2 excellent ASX growth shares analysts rate very highly

JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended MEGAPORT FPO. The Motley Fool Australia has recommended MEGAPORT FPO and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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As an ASX bank share, and a big four bank at that, the Westpac Banking Corp (ASX: WBC) has a certain reputation as a company that pays out hefty dividends. That’s despite Westpac serving up one of the worst years in terms of dividend payments in its history back in 2020. Due to the impacts of the onset of the coronavirus pandemic, Westpac was forced to skip one of its two biannual dividend payments entirely. That was the first time in decades Westpac missed a payment.

But now that 2020 is well and truly in the rear-view mirror, how is 2022 shaping up for Westpac dividends? Will this ASX bank give investors a dividend pay rise this year?

Well, let’s first check out Westpac’s recent dividend history.

So as we just discussed, 2020 was an awful year for income investors of Westpac. The bank paid out a sole, final dividend of 31 cents per share, fully franked. That compared very poorly with 2019’s final dividend of 80 cents per share, and even worse against 2018’s corresponding 94 cents per share dividend. But such was the impact of COVID, as well as a few other issues Westpac was dealing with at the time.

But last year saw the wheels start to hit the road again. Westpac was back to two dividend payments. Those were an interim dividend of 58 cents per share, and a final dividend of 60 cents per share, both fully franked.

Those two payments give the Westpac share price a trailing yield of 5.25% on current pricing. That happens to be the largest trailing yield out of any of the big four ASX banks right now.

What will Westpac’s next dividends look like?

But what does the future hold for Westpac’s dividend? Well, we of course don’t yet know for sure. But we can look at what one ASX investing expert is pencilling in.

Investment bank and broker Goldman Sachs is currently neutral on Westpac shares, albeit with a 12-month share price target of $26.24 a share, implying a potential upside of almost 17% over the next year.

But Goldman is also predicting a total of $1.22 in dividends per share for FY2022. That implies it is expecting Westpac’s first dividend of 2022 to come in at 62 cents per share. For FY2023, Goldman is anticipating a total payout of $1.29 per share, which would presumably see another hike when Westpac announces its final dividend for 2022 later this year. For FY2024, Goldman is expecting yet another dividend hike, this time to $1.46 a share. That would imply a forward dividend yield of 6.5% on current pricing.

So that’s what one expert has predicted will come to pass for the Westpac dividend. No doubt shareholders will be pretty pleased with those payouts if they do come to pass. We’ll have to wait and see what Westpac pulls out of its hat though.

At the current Westpac Banking Corp share price, this ASX 200 bank has a market capitalisation of $82.43 billion.

The post Will Westpac (ASX:WBC) shares give ASX 200 investors a dividend raise in 2022? appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 recommended Westpac Banking Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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