Westpac Announces AUD 0.77 Fully Franked Dividend Payable December 19

Westpac’s Dividend Announcement

Westpac Banking Corporation has confirmed a final ordinary dividend of AUD 0.77 per share for the six months ending 30 September 2025. This dividend is fully franked, reflecting the company’s continued ability to generate taxable profits and return value to shareholders in a tax-efficient manner. The dividend will be paid on 19 December 2025, with an ex-dividend date of 6 November and a record date of 7 November.

Dividend Reinvestment Plan Details

Shareholders have the option to participate in Westpac’s Dividend Reinvestment Plan (DRP), which allows dividends to be reinvested in additional shares rather than paid out in cash. Notably, the DRP will be offered with no discount on the share price, a move that underscores Westpac’s confidence in its share valuation. The DRP price will be calculated based on the average volume weighted average price (VWAP) over a 15 trading day period from 12 November to 2 December 2025.

Participation in the DRP is restricted to shareholders residing in Australia and New Zealand, reflecting regulatory and operational considerations. Shareholders who do not elect to participate will receive their dividend payments in cash.

Currency Options and Tax Considerations

Westpac offers dividend payments in multiple currencies to accommodate its diverse shareholder base. Besides the primary Australian Dollar (AUD), dividends can also be paid in Pound Sterling (GBP) and New Zealand Dollar (NZD), with actual exchange rates applied. This flexibility is particularly relevant for shareholders based in New Zealand and the UK.

The dividend is fully franked at the Australian corporate tax rate of 30%, providing shareholders with franking credits that can offset their tax liabilities. Additionally, a New Zealand imputation credit of NZD 0.06 per share will attach to the dividend, further enhancing its tax efficiency for New Zealand investors.

Implications for Investors

This dividend announcement signals Westpac’s stable earnings and commitment to shareholder returns amid a competitive banking environment. The absence of a DRP discount suggests management’s confidence in the share price, while the fully franked status maintains the appeal for income-focused investors. The multi-currency payment options and DRP participation conditions highlight Westpac’s attention to its international shareholder base.