Westpac claims title of highest-yielding ASX bank share

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The shift in yields is largely attributed to the sluggish performance of Westpac’s share price, which has declined by 3.8% year-to-date in 2023. In comparison, ANZ shares have risen by a robust 11.56%. Meanwhile, NAB and CBA have experienced modest growth, with NAB’s shares increasing by 0.7% and CBA’s shares rising by 2% in the same period.

Dividend yield is determined by two factors: the raw dividends per share that a company pays out and the company’s share price. A falling share price can boost a company’s dividend yield if it maintains its annual dividend payout. Therefore, Westpac’s acquisition of the ‘highest-yielding ASX bank share’ title could be seen as a reflection of its underperforming share price rather than an honorable achievement.

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