Notification of dividend / distribution
Announcement Summary
Entity name
WESTPAC BANKING CORPORATION
Security on which the Distribution will be paid
WBCPD - CAP NOTE 3-BBSW+3.20% PERP NON-CUM RED T-03-19
Announcement Type
New announcement
Date of this announcement
Wednesday September 14, 2016
Distribution Amount
AUD 0.85950000
Ex Date
Tuesday November 29, 2016
Record Date
Wednesday November 30, 2016
Payment Date
Thursday December 8, 2016
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 9 September 2016: 1.7250% pa
+ Margin: 3.2000% pa
= 4.9250% pa
x (1 - Tax Rate): 0.70
= Distribution Rate: 3.4475% pa
The cash amount of the Distribution on each Westpac Capital Note (WCN) was calculated as follows:
Distribution Rate: 3.4475% pa x Face Value: AUD 100
x days in Distribution Period: 91
/ 365
= cash amount of Distribution: AUD 0.8595, fully franked
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
Wednesday September 14, 2016
ASX +Security Code
WBCPD
ASX +Security Description
CAP NOTE 3-BBSW+3.20% PERP NON-CUM RED T-03-19
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)
Thursday December 8, 2016
2A.4 +Record Date
Wednesday November 30, 2016
2A.5 Ex Date
Tuesday November 29, 2016
2A.6 Payment Date
Thursday December 8, 2016
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 0.85950000
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 0.85950000
3A.2 Is the ordinary dividend/distribution franked?
Yes
3A.3 Percentage of ordinary dividend/distribution that is franked 100.0000 %
3A.4 Ordinary dividend/distribution franked amount per +security
AUD 0.85950000
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
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.5 Percentage amount of dividend which is unfranked
0.0000 %
Part 3D - Preference +security distribution rate details
3D.1 Start date of payment period
Friday September 9, 2016
3D.2 End date of payment period
Thursday December 8, 2016
3D.3 Date dividend/distribution rate is set (optional)
Friday September 9, 2016
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
91
3D.6 Dividend/distribution base rate (pa)
1.7250 %
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 Prospectus.
3D.8 Dividend/distribution margin
3.2000 %
3D.9 Comments on how dividend/distribution margin is set
Margin set at the time of issue of WCN and will not change. For more information, refer to the WCN Prospectus.
3D.10 Any other rate / multiplier used in calculating dividend/distribution rate
-1.4775 %
3D.11 Comments on how other rate used in calculating dividend/distribution rate is set
Other rate = A - B where
A = (Bank Bill Rate + Margin) x (1 - Tax Rate) B = Bank Bill Rate + Margin
Tax Rate (expressed as a decimal) means the Australian corporate tax rate applicable to the franking account of Westpac as at the relevant Distribution Payment Date (30%). For more information, refer to the WCN Prospectus.
3D.12 Total dividend/distribution rate for the period (pa)
3.4475 %
3D.13 Comment on how total distribution rate is set
Distribution Rate = (Bank Bill Rate + Margin) x (1 - Tax Rate)
Part 5 - Further information
Westpac Banking Corporation published this content on 14 September 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 15 September 2016 01:58:02 UTC.
Original documenthttp://ir.iguana2.com/westpac/news-item?S=WBC&E=ASX&N=972342
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