CBA (ASX:CBA) share price lifts amid soaring property prices fool.com.au - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com.au Daily Mail and Mail on Sunday newspapers.
NAB (ASX:NAB) share price on watch after announcing $2.5bn buy-back
The recent lockdowns aren’t stopping this banking giant from returning capital to shareholders…
James Mickleboro has been a Motley Fool contributor since late 2015. After studying economics at university back home in the United Kingdom, James came to live in Australia and managed to land a job at an Australian fund manager. This was the start of a love affair with Australian equities and he hasn t looked back since. James is part of the CFA Institute s Chartered Financial Analyst program and hopes it teaches him how to become an astute investor which allows him to help others with their own investing. Outside of reading and researching he spends many a late night watching the English Premier League and Seinfeld reruns.
The NAB share price increased by 0.6% today after the bank announced a share buyback.
NAB said it’s going to buy up to $2.5 billion of its shares on-market to progress managing its common equity tier 1 (CET1) towards its target range of 10.75% to 11.25%. It expects to commence its buyback in the second half of August 2021.
The major bank said that it continues to operate well above APRA’s unquestionably strong benchmark of 10.50%, with a reported CET1 capital ratio of 12.37% at level 2.
NAB said that the $2.5 billion buyback will reduce the CET1 capital ratio by around 60 basis points. After the sale of MLC Wealth to
UPDATE 1-Australia s NAB launches $1 9 bln share buyback, more to come reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.
The NAB (ASX:NAB) share price is flat 5 years on. But have the dividends paid off?
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Aaron Teboneras has been a Motley Fool contributor since early August 2020. After graduating from RMIT University with a Business degree, Aaron spent most of his years either travelling or working in various industries. Aaron’s most notable appointments include National Australia Bank, and Computershare where he discovered his passion for the Australian sharemarket. Outside of researching and writing for Motley Fool, Aaron enjoys trekking on adventures across the world and learning new life skills.