ANZ, Bank of Queensland, NAB and Westpac report their interim FY14 results in the next six weeks
ANZ, Bank of Queensland, NAB and Westpac report their interim FY14 results in the next six weeks. Buy these banks now and you can lock in three dividends over the next 13 months, with an average gross yield of around 10.8% (cash yield of 8.3%). This is more than double the 3.5% yield currently offered on one year term deposits. Our Chief Economist Michael Knox believes that Australia is trapped in a growth recession and that interest rate rises are implausible when unemployment is going up. In our view, this makes bank yields look increasingly attractive. Our dividend outlook for these banks is available on the Morgans blog: (VIEW LINK)
Morgans is Australia's largest national full-service retail stockbroking and wealth management network with over 240,000 client accounts, 500 authorised representatives and 950 employees operating from offices in all states and territories.