Everything you need to know about the Westpac dividend

The Westpac Banking Corp (ASX: WBC) dividend has just been announced along with the FY26 result. The ASX bank share's profit performance wasn't impressive, but the dividend remains solid.

For the 12 months to 30 September 2026, Westpac saw net profit decline 1% to $6.8 billion. Excluding notable items, net profit was flat at $7 billion.

Those disappointing profit numbers came despite 6% growth of deposits and 5% growth of lending.

While pre-provision profit rose 4% year-over-year to $10.9 billion, impairment charges soared 104% to $864 million.

With that profit, the board of directors decided on the level of the payout.

Westpac dividend declared

The ASX bank share declared today (2 November 2026) its final dividend for FY26 in the annual report, being the second half of FY26.

The upcoming dividend is 77 cents per share, which is the same as FY25's final dividend. This brings the FY26 full-year dividend to $1.54 per share, 1% more than the FY25 full-year dividend.

In terms of the dividend payout ratio, the bank noted that its dividend represents 77% of statutory net profit and 75% excluding notable items. Therefore, it's sending around three-quarters of its profit to shareholders and retaining a quarter of earnings to invest in the business.

On the day of the result, at the time of writing, the FY26 final dividend represents a dividend yield of 2% excluding franking credits and almost 3% including franking credits.

In terms of the FY26 full-year dividend, the dividend yield is 4.1% excluding franking credits and 5.9% including franking credits.

When will it be paid?

Before we get to when the dividend will be paid, we need to consider the ex-dividend date. The ex-dividend date is the cut-off date for entitlement to the upcoming dividend.

Investors need to own shares before the ex-dividend date to receive the upcoming dividend.

The ex-dividend date for the payout is Thursday, 5 November 2026, which is in just a few days. Therefore, investors need to own Westpac shares by the end of trading on Wednesday, 4 November 2026 to be entitled to the upcoming payout.

The ASX bank share will pay this dividend on 21 December 2026, which is approximately a month and a half away.

Investors can also decide to take part in the dividend reinvestment plan (DRP), where shareholders can choose to receive more Westpac shares rather than dividend cash.

If shareholders want to take part in the DRP, then they need to elect to do so by 5pm on Monday, 9 November 2026.

The reinvestment price for Westpac shares in the DRP will be decided by the daily volume-weighted average price between 11 November 2026 to 1 December 2026. No DRP discount rate will be applied.

The post Everything you need to know about the Westpac dividend appeared first on The Motley Fool Australia.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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