Grounds to sue Austrac for Westpac loss?


this issue was already disclosed in the Westpac 2019 accounts, well prior to the cap raise.

End of case, end of … well this hot air.
Whilst WBC and a few hit around the $30- mark, the underlying issues were actually getting worse … need for capital and this and a few other likely fines.

Now the media … or the share price reflects where things are, with a risk premium, its the end of the world for some.

Even if WBC cut dividend to $1.50 … and they already did cut, knowing the likely scope of this fin of say 800 mio … its a 91 billion company that makes 6 billion a year globally. Yes … its lows yesterday were 20% off the highs of late, but they were, to be blunt idiotic.

At even $1.50 … that’s a 6% yield fully franked … so 8% of so equiv in an interest rate environment where the cash rate is 0.75% and likely to fall to 0.5%.

At $22- and a $1.50 dividend its 6.82% yield and with franking credits around 9% grossed up yield.

So between $25; and maybe … $22- its some value I susspect


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