National Aust. Bank (NAB) will go ex dividend on 31/5/2012. The current dividend payment is 90 cents and it is 100% franked. The record date is 6/6/2012 and the dividend will be paid on 16/7/2012. Based on the full year payment the dividend yield is 7.3%.
*Current Yield: 3.7% Franking: 100% DRP Discount: Not Available
*Yield has been calculated on the closing price on the 11/5/2012. Current yield is based on the current dividend payment only.
National Australia Bank (NAB) will go ex dividend on 12/11/2010. The current dividend payment is 78 cents and it is 100% franked. The record date is 18/11/2010 and the dividend will be paid on 17/12/2010. Based on the full year payment the dividend yield is 5.9%.
*Current Yield: 3.0% Franking: 100% DRP Discount: 3%
*Yield has been calculated on the closing price on the 3/11/2010. Current yield is based on the current dividend payment only.
Great Western Bank (GWB), a wholly owned subsidiary of National Australia Bank Limited (NAB), today announced the acquisition, effective immediately, of certain assets and liabilities of TierOne Bank from the Federal Deposit Insurance Corporation (FDIC) for a cash payment of approximately US$76 million, subject to closing adjustments. The acquisition includes all of TierOne’s approximately US$1.9 billion in deposits and US$1.9 billion in loans. The loss share agreement has a term of ten years for residential mortgages and five years for all other loans. The acquisition is earnings accretive and the GWB loan portfolio remains more than 100% deposit funded following the acquisition.
Andrew Thorburn, NAB Group Executive Asia, New Zealand and the United States said: “This acquisition is aligned with our US strategy and is a financially attractive bolt on opportunity. It increases Great Western’s distribution and customer base in selected states that together have an agricultural output greater than Australia’s.”
The cash payment of US$76 million includes a deposit premium, an asset discount and net assets acquired. GWB has an option to acquire TierOne branches at fair market value (or assume the relevant leases) and to make employment offers to TierOne employees. The TierOne branch network is in the key agricultural states of Nebraska (59 branches), Iowa (9 branches) and Kansas (1 branch).
National Australia Bank (NAB) will go ex dividend on 4/6/2010. The current dividend payment is 74 cents and it is 100% franked. The record date is 10/6/2010 and the dividend will be paid on 8/7/2010. Based on the full year payment the dividend yield is 6.2%.
*Current Yield: 3.1% Franking: 100% DRP Discount: 3%
*Yield has been calculated on the closing price on the 21/5/2010. Current yield is based on the current dividend payment only.
National Australia Bank Limited (NAB) has agreed binding terms with the French parent company AXA (AXA), and AXA Asia Pacific Holdings Limited to purchase the Australian and New Zealand businesses of AXA APH for $4.6 billion1 as part of a proposal to acquire all of the shares in AXA APH. As part of the proposal AXA has agreed to purchase the Asian businesses of AXA APH for $9.4 billion, out of which the $0.7 billion AXA APH A&NZ debt to AXA will be repaid. NAB will therefore acquire AXA APH A&NZ without debt.
NAB will acquire AXA APH’s A&NZ wealth management and insurance businesses (including the Australian mature business). This includes the advice businesses of ipac, Genesys, AXA Financial Planning and Charter Financial Planning. NAB will be able to use the AXA trademark in Australia and New Zealand for a period of 2 years to assist with transition. Subject to agreeing new joint venture arrangements, NAB will retain AXA APH’s 50% interest in the AllianceBernstein Australia joint venture.
AXA will also offer to subscribe for $600 million of unsubordinated notes issued by National Wealth Management Holdings Limited (NWMH). The proposal is subject to AXA APH minority shareholder approval. The Independent Directors Committee of AXA APH unanimously recommended that AXA APH minority shareholders vote in favour of the NAB proposal, in the absence of a superior proposal and subject to a favourable independent expert’s opinion. The proposal is also subject to various other conditions and regulatory approvals, including the approval of the Federal Treasurer and that there is no objection to the merger from the ACCC or APRA. A break fee of $35 million is payable to NAB by AXA APH in certain circumstances.
Cameron Clyne, NAB Group CEO said: “I am pleased with the progress we have made in our proposal to acquire the Australian and New Zealand businesses of AXA Asia Pacific and agreement of binding terms with AXA is an important milestone. “MLC and AXA Australia and New Zealand are among the most trusted financial services brands in Australasia and collectively hold more than $149 billion in funds under administration and management2. “The proposal agreed today provides the opportunity to enhance the access to competitive wealth management products and services within Australia and New Zealand. It is also an attractive, strategically aligned opportunity that enhances NAB’s activities in the growing wealth management industry,” he said.
Under the terms of the proposal, AXA APH minority shareholders will have the option to receive either cash of A$6.43 per AXA APH share or A$1.59 in cash and 0.1745 NAB shares per AXA APH share (subject to potential adjustment if NAB conducts an equity raising). AXA APH shareholders who elect to receive the cash and NAB share consideration under the proposal will also be entitled to receive the value of NAB’s 2010 interim dividend.
National Australia Bank (NAB) today announced that it has agreed certain key terms with AXA Asia Pacific for NAB to acquire AXA AP’s Australian and New Zealand businesses. AXA AP’s independent directors will recommend to shareholders that they accept NAB’s proposal to acquire all of the shares in AXA AP on terms that value the Australian and New Zealand businesses at A$4.6 billion. MLC and AXA Australia and New Zealand are among the most trusted financial services brands in Australasia, and collectively hold more than A$144.3 billion in funds under administration and management. Under the terms of the Proposal, AXA AP shareholders (other than AXA SA and its subsidiaries) will have the option to receive either A$6.43 per share in cash; or A$1.59 in cash and 0.1745 NAB shares for each AXA AP share. In addition, AXA AP shareholders will receive up to 9.25 cents dividend for their AXA AP shares in relation to the second half 2009 results. The shares issued under the Proposal will also be entitled to receive NAB’s interim dividend payable in July 2010. The Proposal will provide AXA AP shareholders with the certainty of an all cash option. The Proposal will also offer AXA AP shareholders (other than AXA SA and its subsidiaries) the flexibility to receive part of their consideration in NAB shares and participate in the benefits of the combined business. The consideration is proposed to be funded from a combination of an equity raising of approximately A$1.5bn, the scrip offer and existing capital resources.
NAB will acquire 100 per cent of AXA AP’s shares, valuing the Australian and New Zealand businesses at A$4,610 million. AXA AP shareholders (other than AXA SA and its subsidiaries) will have the ability to elect to receive consideration of $6.43 in cash or A$1.59 in cash and 0.1745 NAB shares for each AXA AP share.
Commenting on the transaction, NAB CEO Cameron Clyne said: “The proposed merger of our Wealth business and AXA Australia and New Zealand would combine two successful and highly complementary businesses, and will achieve attractive scale benefits in the Australian superannuation, retirement income and insurance markets. The Proposal is consistent with NAB’s strategy of growing its wealth management franchise, most recently demonstrated through the acquisitions of Aviva Australia and a strategic alliance with JB Were. Indeed, integrating these businesses and AXA Australia & New Zealand is expected to deliver substantial synergy benefits and will provide a better outcome for customers and advisers, with access to a broader range of quality investment and insurance products.” NAB Group Executive NAB Wealth and MLC Australia, Steve Tucker said: “The acquisition of AXA AP’s Australian and New Zealand business would be a transformational step in our journey to deliver the best possible wealth products and services to our clients and advisers. The Proposal will significantly grow our number of aligned advisers as well as enhance our relationships in the external financial adviser (EFA) market and we are committed to supporting them with quality insurance and investment products.”
National Australia Bank (NAB ) today announced it had reached agreement to purchase the mortgage management business of Challenger for $385 million. The purchase includes the PLAN, Choice and FAST mortgage aggregator businesses and Challenger’s multi-brand ‘white label’ product capability. In addition, a select portfolio of approximately $4 billion of residential mortgages will be acquired at a discount to face value for loan loss provisions. The acquisition is expected to be earnings and return on equity accretive in the first year.
National Australia Bank Group Chief Executive Officer, Cameron Clyne said: “As I have said previously we will take advantage of compelling opportunities to enhance our organic growth capabilities. This acquisition provides additional distribution and capability in Australian mortgages,” he said. NAB Personal Banking Group Executive, Lisa Gray said: “The acquisition of the Challenger mortgage management business increases NAB’s presence in the important broker distribution segment. As part of NAB the Challenger mortgage management business will have the capacity to grow and support its broker networks. “The existing management team will be retained and continue to run the business as a separate entity reporting to NAB Broker within NAB Personal Banking,” she said.
The total purchase price of $385 million includes the amount payable if approximately 41% of Homeloans Ltd is acquired.
National Australia Bank (NAB) and Goldman Sachs JBWere (GSJBW) today announced an agreement for NAB to acquire 80.1% of Goldman Sachs JBWere’s private wealth management business in Australia and New Zealand, which will be branded JBWere, with Goldman Sachs JBWere retaining the remaining 19.9%. JBWere will remain a centre of specialist expertise, focused on delivering advice driven wealth solutions to high net worth clients, and become a portfolio business of NAB’s wealth division, MLC & NAB Wealth. The alliance incorporates a strategic distribution relationship which enables GSJBW to distribute certain products to JBWere on an exclusive or preferred basis.
NAB will outlay $99 million for JBWere, with additional performance related consideration payable dependent on revenues generated by the business over a period of three years. The contribution to NAB Group earnings and ROE is not expected to be material in the first year.
JBWere is a leading wealth advisory business with more than 22,000 active client relationships, assets under advice exceeding $38 billion, and funds under management of around $10 billion. JBWere advisers will retain full access to the existing range of services, investment research and products currently available through Goldman Sachs JBWere, as well as accessing additional services from NAB and MLC.
“JBWere’s pre-eminent reputation for providing wealth management services to high net worth individuals and National Australia Bank’s strong footprint in business and private banking is a great combination,” National Australia Bank Group Chief Executive Officer Cameron Clyne said. “Our Australian Wealth business, MLC & NAB Wealth, has a long history in developing and nurturing wealth management businesses that service private wealth and institutional clients under their own distinct brands, including JANA and Godfrey Pembroke. “At the NAB strategy update in March, I indicated private wealth was a business with significant upside and JBWere adds to our capability and brands in that area,” Mr Clyne said.
National Australia Bank (NAB) announced on the 22/7/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 27/7/2009 on which shareholders must own the share to participate in the SPP. The closing date is 21/8/2009. Shares will be issued on 31/8/2009 and begin trading soon after. A maximum of $15,000 can be purchased by each shareholder at $21.50 or the volume weighted average price (VWAP).
Discount : 3.5% Liquidity : Good Profitability : Good Stability : Good
* Note: Discount is based on the closing price on the 24 July 2009.
For More Share Purchase Plans go to http://blog.mdsfinancial.com.au/category/share-purchase-plans/
To Buy Shares And Participate in Share Purchase Plans … use Trader Dealer http://www.traderdealer.com.au/
National Australia Bank (NAB) announced on the 22/7/2009 that they would be conducting a Share Purchase Plan to raise additional capital. The record date was the 27/7/2009 on which shareholders must own the share to participate in the SPP. The closing date is 21/8/2009. Shares will be issued on 31/8/2009 and begin trading soon after. A maximum of $15,000 can be purchased by each shareholder at $21.50 or the volume weighted average price (VWAP).
Discount : 3.5% Liquidity : Good Profitability : Good Stability : Good
* Note: Discount is based on the closing price on the 24 July 2009.
For More Share Purchase Plans go to http://blog.mdsfinancial.com.au/category/share-purchase-plans/
To Buy Shares And Participate in Share Purchase Plans use Trader Dealer http://www.traderdealer.com.au/
