With the full year results finished for three of the big four banks that means ex-dividend dates are fast approaching. As has been noted previously there has been no run up in their share prices this year as return on equity slips, dividends remain stable and margins come under pressure.
Clancy Yeates and James Eyers writing for BusinessDay have summarised it all pretty neatly this morning. They've included a few useful graphs looking at return on equity, net interest margins and bad debt expenses going back a number of years.
ANZ
Ex dividend date 5th Nov 2015
PE ratio down to 10
Dividend yield 6.7% fully franked
NAB
Ex dividend date tomorrow (4th Nov 2015)
PE ratio 12
Dividend yield 6.6% fully franked
WBC
Ex dividend date 10th Nov 2015
PE ratio 13
Dividend yield 6% fully franked
ANZ continues to offer the best value and some would argue the higher risk.
Unless ANZ has a bit of a bounce today or tomorrow its share price could be testing its 52 week low later in the week.
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