The Commonwealth Bank will kick off bank reporting on February 15 amid hot inflation and falling house prices, with Morgan Stanley tipping the big four to lift dividends 9pc on average.
Broker Morgan Stanley has tipped Australia’s big four banks to shake off worries over a slowing economy andThe broker said shareholders will have to rely on dividends for capital returns in 2023 as the major lenders call time on capital return programs that saw them buy back around $18 billion of shares over 2021 and 2022.
Commonwealth Bank is tipped to grow total dividends the strongest in 2023, with a 17 per cent rise on the prior year from $3.85 per share to $4.50 per share. The next best is National Australia Bank, which is forecast to hike dividends 10 per cent from $1.51 per share to $1.66. Westpac is expected to deliver a 9 per cent increase to $1.36 per share.New Zealand Bank. It’s forecast to post dividend growth of 1 per cent. Morgan Stanley didn’t specify a reason, although ANZ Bank’s first half earnings dipped 3 per cent
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