wealthoracle.co.uk/detailed-result-full/NWG/1236 |
probably yes good, as a buy back doesn't really seam to do anything tot he share price when technically it should but tends not to, maybe if they cancel then as well then it will. |
Nwg prioritising dividend payout over buybacks is what the results tell me |
Waiting for the Q&A to see if they ask about directed buybacks. |
Its the season to whack the banks - no matter what they report! |
Great share to sit on.Reasonable dividend and once hmrc out will get a share price boost |
Great results and good div you could not ask for more Better than a bank account and money always in your bank in three days if you need it Buy buy buy |
Probably down. Buy the rumour sell the fact for bank shares. A chunky fall in the short term probably quite healthy to get rid of profit takers and get new peeps on board. Markets might be in for rough times too. |
Great final div. Still 5% yield at these levels. 10% for those short term 2 said average holders. Monster yield for long termers. Rather no buyback at these elevated levels. If they insist on chucking out more cash, pay a special. |
Thanks Skinny.
Was supposed to be 19.4p DPS FY24 so it's a nice increase. |
So the open should be up since the expectations have been beaten.
Another good performance and that's a fantastic final dividend of 15.5 per share |
Answer my own question herehttps://www.proactiveinvestors.co.uk/companies/news/1066262/natwest-delivers-stronger-than-expected-performance-outlook-remains-cautious-1066262.html |
Does anyone know what the market expectation was and if the fell short or surpassed it |
"we expect to pay ordinary dividends of around 50% of attributable profit from 2025 and will consider buybacks as appropriate." |
I didn’t see anything about a buyback did l miss it?
I assumed they’d skip it given NAV perhaps they will do a directed one? |
So still only PE of circa 8. Hopefully limited downside and possibly another 100p on the share price in the next year or so, assuming no crash (for now). |
Another 1% reduction by HMT.
That dividend is higher than consensus for fy24 🙂 |
 Full year 2024 performance
- Attributable profit £4.5 billion, with earnings per share of 53.5 pence, up 5.6 pence, or 12%, compared to 2023. Return on tangible equity (RoTE) of 17.5%.
- TNAV per share increased 37 pence to 329 pence primarily reflecting the attributable profit partially offset by the impact of distributions.
- A final dividend of 15.5 pence per share is proposed, bringing the total for the year to 21.5 pence, up 26% compared to 2023. Total distributions deducted from capital in the year are £4.0 billion.
- Common Equity Tier 1 (CET1) ratio of 13.6% was 20 basis points higher than 31 December 2023. Capital generation pre distributions was 243 basis points for the year. RWAs increased by £0.2 billion in the year to £183.2 billion.
- Total income excluding notable items(1) of £14.6 billion increased by £0.3 billion, or 2.2%, compared with 2023 principally reflecting deposit margin expansion and lending growth. Net interest margin (NIM) of 2.13% was 1 basis point higher than 2023.
- Other operating expenses were £213 million (2.8%) higher than 2023, or excluding costs in relation to a retail share offering of £24 million and additional bank levies of £102 million, were 1.1% higher.
- A net impairment charge of £359 million for 2024, or 9 basis points of gross customer loans, with levels of default stable.
- Net loans to customers excluding central items increased by £12.9 billion, or 3.6%, to £368.5 billion reflecting a £3.2 billion increase in Retail Banking, of which £2.2 billion relates to the Metro Bank mortgage portfolio, and a £10.0 billion increase in Commercial & Institutional.
- Customer deposits excluding central items increased by £12.2 billion, or 2.9%, during 2024 to £431.3 billion as savings growth was partially offset by lower current account balances within Retail Banking and Private Banking.
- The liquidity coverage ratio (LCR) of 150%, representing £53.4 billion headroom above 100% minimum requirement, increased by 6 percentage points compared with 2023.
Q4 2024 performance
- Attributable profit of £1,248 million and a RoTE of 19.0%.
- Total income excluding notable items of £3,872 million was £100 million, or 2.7%, higher than Q3 2024. NIM increased 1 basis point to 2.19%.
- Other operating expenses increased by £330 million compared with Q3 2024 principally reflecting the annual Bank Levy and strategic costs including property exits.
- Net loans to customers excluding central items increased by £4.8 billion in the quarter reflecting growth within Corporate & Institutions and higher Retail Banking mortgage balances.
- Customer deposits excluding central items increased £3.9 billion in Q4 2024.
- CET1 ratio reduced by 30 basis points. RWAs increased by £1.7 billion primarily reflecting lending growth. |
Let's hope it's happy porty, not a happy bunny today. |
Twice as many buys as sells and down by 13p mms have done the job for the edge funds |
Tomorrow will be a good day happy day |
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