Notification of dividend / distribution
Announcement Summary
Entity name
WESTPAC BANKING CORPORATION
Security on which the Distribution will be paid
WBCPG - CAP NOTE 3-BBSW+4.90% PERP NON-CUM RED T-12-21
Announcement Type
New announcement
Date of this announcement
Tuesday July 4, 2017
Distribution Amount
AUD 1.16630000
Ex Date
Thursday September 21, 2017
Record Date
Friday September 22, 2017
Payment Date
Monday October 2, 2017
Additional Information
The Distribution Rate was determined using the following formula: (Bank Bill Rate + Margin) x (1 - Tax Rate)
as follows:
Bank Bill Rate is the 90 day Bank Bill Rate on 3 July 2017: 1.7100% pa
+ Margin: 4.9000% pa
= 6.6100% pa
x (1 - Tax Rate): 0.70
= Distribution Rate: 4.6270% pa
The cash amount of the Distribution on each Westpac Capital Note 4 (WCN 4) was calculated as follows:
Distribution Rate: 4.6270% pa x Face Value: AUD 100
x days in Distribution Period: 92
/ 365
= cash amount of Distribution: AUD 1.1663, fully franked
As 30 September 2017 is not a Business Day, the Distribution payment will be made on the next Business Day, 2 October 2017.
Refer to below for full details of the announcement
Announcement Details
Part 1 - Entity and announcement details
Name of +Entity
WESTPAC BANKING CORPORATION
Registration Number
33007457141
Registered Number Type
ABN
ASX issuer code
WBC
The announcement is
New announcement
Date of this announcement
Tuesday July 4, 2017
ASX +Security Code
WBCPG
ASX +Security Description
CAP NOTE 3-BBSW+4.90% PERP NON-CUM RED T-12-21
Part 2A - All dividends/distributions basic details
2A.1 Type of dividend/distribution
Ordinary
2A.2 The Dividend/distribution:
relates to a period of one quarter
2A.3 The dividend/distribution relates to the financial reporting or payment period ending ended/ending (date)
Saturday September 30, 2017
2A.4 +Record Date
Friday September 22, 2017
2A.5 Ex Date
Thursday September 21, 2017
2A.6 Payment Date
Monday October 2, 2017
2A.7 Are any of the below approvals required for the dividend/distribution before business day 0 of the timetable?
Security holder approval Court approval
Lodgement of court order with +ASIC ACCC approval
FIRB approval
Another approval/condition external to the entity required before business day 0 of the timetable for the dividend/distribution.
No
2A.8 Currency in which the dividend/distribution is made ("primary currency")
AUD - Australian Dollar
2A.9 Total dividend/distribution payment amount per +security (in primary currency) for all dividends/distributions notified in this form
AUD 1.16630000
2A.10 Does the entity have arrangements relating to the currency in which the dividend/distribution is paid to securityholders that it wishes to disclose to the market?
No
2A.11 Does the entity have a securities plan for dividends/distributions on this +security?
We do not have a securities plan for dividends/distributions on this security
2A.12 Does the +entity have tax component information apart from franking?
No
Part 3A - Ordinary dividend/distribution
3A.1 Is the ordinary dividend/distribution estimated at this time?
No
3A.1b Ordinary Dividend/distribution amount per security
AUD 1.16630000
3A.2 Is the ordinary dividend/distribution franked?
Yes
3A.3 Percentage of ordinary dividend/distribution that is franked 100.0000 %
Estimated or Actual?
Actual
3A.1a Ordinary dividend/distribution estimated amount per +security
AUD
3A.2a Is the ordinary dividend/distribution fully franked?
Yes
3A.3a Applicable corporate tax rate for franking credit (%)
30.0000 %
3A.4 Ordinary dividend/distribution franked amount per +security
AUD 1.16630000
3A.6 Ordinary dividend/distribution unfranked amount per +security excluding conduit foreign income amount
AUD 0.00000000
3A.7 Ordinary dividend/distribution conduit foreign income amount per security
AUD 0.00000000
3A.5 Percentage amount of dividend which is unfranked
0.0000 %
Part 3D - Preference +security distribution rate details
3D.1 Start date of payment period
Saturday July 1, 2017
3D.2 End date of payment period
Saturday September 30, 2017
3D.3 Date dividend/distribution rate is set (optional)
Monday July 3, 2017
3D.4 Describe how the date that dividend/distribution rate is set is determined
First Business Day of the Distribution Period
3D.5 Number of days in the dividend/distribution period
92
3D.6 Dividend/distribution base rate (pa)
1.7100 %
3D.7 Comments on how dividend/distribution base rate is set
90 day Bank Bill Rate on the first Business Day of the Distribution Period. For more information, refer to the WCN 4 Prospectus.
3D.8 Dividend/distribution margin
4.9000 %
3D.9 Comments on how dividend/distribution margin is set
Margin set at the time of issue of WCN 4 and will not change. For more information, refer to the WCN 4 Prospectus.
3D.10 Any other rate / multiplier used in calculating dividend/distribution rate
-1.9830 %
Westpac Banking Corporation published this content on 04 July 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 05 July 2017 06:20:06 UTC.
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