Bendigo Bank

Bendigo and Adelaide Bank Dividends

25 August, 2010 - 00:10

Study the historical dividends for BENDIGO AND ADELAIDE BANK LIMITED. Dividends are a portion of company profits paid out to shareholders. You are eligible to receive BEN dividends if you own the company's stock on the ex-dividend date. Investor's must have purchased the stock before the ex dividend date to be entitled to the dividend. The previous owner of the shares will receive the BEN dividend if you buy the stocks on or after the ex dividend date. The Pay Date or the Date Payable is the day when the dividend is paid to shareholders.

Bendigo Bank: The Best Performer for Week 47 of 2007


Bendigo Bank was the overall best performing stock taking in a 15.41 percent increase. Among the best performing companies for the past week (week 47 of 2007) on the Australian sharemarket was a mixture of financial services, retail, farming, agribusiness and travelling: Bendigo Bank (BEN), CFS Retail (CFX), Wesfarmers (WES), Timbercorp (TIM), Flight Centre (FLT). These best performing stocks for week 47 managed gains above 3.25 percent by the end of the trading week.

Bendigo Bank (BEN) Worst Performing ASX100


Bendigo Bank (BEN) was the worst performing stock on the ASX100 this week (loser of the week for week 38 of 2007) shedding $1.12 or 7.635 percent of their share value, closing the week at $13.55. Aussie dollar closed the week strongly at against the greenback at US 86.83 cents. Gold closed at $736.60. The Australian Stock Exchange All Ordinaries closed 6371.2. Finally, the ASX200 index closed at 6357.8. Bendigo Bank has previously been a loser (twice) and a winner.

SP Ausnet (SPN): Loser


SP Ausnet (SPN) was the overall worst performing stock taking in a 10.71 percent decrease. It was a mixture of financial services, healthcare, energy and forest products companies who were among the worst performing stocks for the week 38 of 2007 on the Australian sharemarket: Bendigo Bank (BEN), Ansell (ANN), Sigma Pharmaceutical (SIP), SP Ausnet (SPN), Adelaide Bank (ADB), Gunns (GNS). These worst performing stocks for the week 38 recorded losses above 6.08 percent by the end of the trading week.

Commander Communications (CDR) Worst Performing Shares


Commander Communications(CDR) was the overall worst performing stock taking in a 30.1 percent decrease. Among the worst performing stocks for the week 35 of 2007 on the Australian sharemarket were a mixture of communications technology, gambling & gaming, mining and financial services: Tattersall's (TTS), Bendigo Bank (BEN), Insurance Australia Group (IAG), Commander Communications (CDR), Compass Resources (CMR). These worst performing stocks recorded losses between 5.09 to 30.1 percent by the end of the trading week.

Bendigo Bank (BEN): Loser


Bendigo Bank was the worst performing company on the Australian sharemarket this week after the stock had rejected a bid the Bank of Queensland (BOQ).(Loser of the week for week 16 of 2007) Bendigo bank closed the week at $15.82 losing $1.73 or 9.86 percent. The company also took the title for the worst performing company on the ASX100 and ASX200 indices. It's the end of April... have you heard of "sell in May and go away?" Bendigo Bank was previously a Winner of the week.

Bendigo Bank (BEN): Winner


Bendigo Bank (BEN) was the best performing company among the other company shares listed on the ASX100 and ASX200 indexes this week (Winner of the week for week 11 of 2007). This banking company closed the week $4.09 or 30.96 percent higher at $17.30. The All Ordinaries index closed at 5933.1 and the ASX200 index closed at 5952.3.

Bendigo Bank (BEN) and Bank of Queensland (BOQ) Merger Proposal


Bendigo Bank (BEN) shares have shot up higher today after news of Bank of Queensland (BOQ) has approached the board of BEN on a merger proposal. Bendigo Bank has yet to comment on the merger proposal. Analyst Macquarie Research Equities has a few comments: BOQ's offer is 0.748 BOQ shares plus $5.50 cash per BEN share, valuing BEN at $17.92 based on BOQ's Friday close of $16.60 or $17.18 based on 1 month Volume Weighted Average Price (VWAP). BOQ's merger proposal represents a 25% premium to BEN's 1 month VWAP or 36% premium to the closing price last Friday. The offer price of $17.92 (based on BOQ's $16.60 close on Friday) is around 21.8x BEN's pre-synergy earnings, with BOQ expecting this to be EPS accretive in 09 through $70m pre-tax cost synergies over 3 years (~20% of BEN's cost base). The cash component of the offer is expected to require BOQ to raise about $550m through an entitlements issue. The remaining about $200m cash component will be funded via senior debt. While the offer premium is attractive, there is still some risk BEN board may initially reject the offer (this remains the biggest barrier given BEN's large retail shareholding base). This reflects BEN's recent price weakness and potential its board may be concerned about the cultural fit of the two organisations given BOQ's more sales driven focus. At this point, it is difficult to envisage another bid given the high premium that BOQ is paying. BEN's community based banking model remains another barrier to alternative offers as it effectively rules out the major banks (even if they weren't bothered by the price) given BEN was set up to attract customers seeking an alternative to the majors. This cultural fit could also impact attraction of BEN to HBOS. While the merger proposal is attractive on financial terms, if it were to receive support of the BEN board, the analyst's initial view is that it may impact BOQ from a valuation perspective to the downside. The analyst believes that longer term EPS accretion is likely to be offset by potential for a modest reduction in BOQ's rating given greater scale and potential for branch openings to slow (particularly community bank franchises) under a merged entity. Accordingly, the analyst's neutral rating on BOQ is unlikely to change. The analyst's recent underperform rating on BEN (which was already under review given the price was approaching their target) will be moved to Neutral.

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