SHAREHOLDER NEWSLETTER DECEMBER 2013 STRENGTH RETURN GROWTH PRODUCTIVITY WESTPAC BANKING CORPORATION ABN 33 007 457 141 Dear shareholder Thank you for your support over the past year. The 2013 financial year was one of achievement and strong performance for the Westpac Group. We continued to strengthen our balance sheet, deepened customer relationships, delivered against our strategic priorities and performed well across all divisions. Performance highlights for the year included: • Cash earnings of $7,097 million, up 8% • Cash earnings per share of 228.9 cents, up 6% • An expense to income ratio of 40.9%, the lowest of the Australian major banks • Sector leading capital position with a common equity tier 1 ratio of 9.1% For those seeking further information on our results, our Investor Centre – available at www.westpac.com.au/ investorcentre – contains a wealth of information including our 2013 Annual Review and Sustainability Report as well as our Annual Report. Steady dividend increase The Group’s strong performance has contributed to positive returns for shareholders with the Board declaring a final fully franked ordinary dividend of 88 cents per share, up 2% on first half 2013 and another fully franked special dividend of 10 cents per share. The final ordinary and special dividends were paid on 19 December 2013. Over the full year, we have paid ordinary dividends of 174 cents per share up 5% as well as 20 cents per share in special dividends. 2013 Annual General Meeting We were very pleased to welcome so many of our Melbourne based and other shareholders at our Annual General Meeting held on 13 December 2013. The results of resolutions put to the meeting, along with copies of speeches can also be accessed through our Investor Centre. Looking ahead Looking forward, as we indicated at the time of our results, the combination of significant strengthening of our business, our targeted investments and the healthy position of all of our divisions puts us in good stead to continue delivering sound, high quality returns to shareholders. Lindsay Maxsted Chairman Gail Kelly Chief Executive Officer Our performance has contributed to strong, positive returns for shareholders. Westpac Group Chairman Lindsay Maxsted and Chief Executive Officer Gail Kelly. For personal use only
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SHAREHOLDER NEWSLETTERDECEMBER 2013
STRENGTH RETURN GROWTH PRODUCTIVITY
WESTPAC BANKING CORPORATION ABN 33 007 457 141
Dear shareholderThank you for your support over the past year. The 2013 financial year was one of achievement and strong performance for the Westpac Group. We continued to strengthen our balance sheet, deepened customer relationships, delivered against our strategic priorities and performed well across all divisions.
Performance highlights for the year included:
• Cash earnings of $7,097 million, up 8%
• Cash earnings per share of 228.9 cents, up 6%
• An expense to income ratio of 40.9%, the lowest of the Australian major banks
• Sector leading capital position with a common equity tier 1 ratio of 9.1%
For those seeking further information on our results, our Investor Centre – available at www.westpac.com.au/investorcentre – contains a wealth of
information including our 2013 Annual Review and Sustainability Report as well as our Annual Report.
Steady dividend increaseThe Group’s strong performance has contributed to positive returns for shareholders with the Board declaring a final fully franked ordinary dividend of 88 cents per share, up 2% on first half 2013 and another fully franked special dividend of 10 cents per share. The final ordinary and special dividends were paid on 19 December 2013.
Over the full year, we have paid ordinary dividends of 174 cents per share up 5% as well as 20 cents per share in special dividends.
2013 Annual General MeetingWe were very pleased to welcome so many of our Melbourne based and other shareholders at our Annual General Meeting held on 13 December 2013. The results of resolutions put to the meeting, along with copies of speeches can also be accessed through our Investor Centre.
Looking aheadLooking forward, as we indicated at the time of our results, the combination of significant strengthening of our business, our targeted investments and the healthy position of all of our divisions puts us in good stead to continue delivering sound, high quality returns to shareholders.
Lindsay Maxsted Chairman
Gail Kelly Chief Executive Officer
Our performance has contributed to strong, positive returns for shareholders.
Westpac Group Chairman Lindsay Maxsted and Chief Executive Officer Gail Kelly.
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Since launching our Dividend Donation Plan in 2012, shareholders have generously donated close to $80,000 to the Westpac Family of Giving to support Australians in need. Thank you to all who participated.Shareholder donations support organisations like FareShare, a food rescue charity which collects surplus food from businesses – otherwise destined for landfill – and turns this into meals and food hampers for struggling families and individuals. FareShare operates Australia’s largest charity kitchen, cooking one million healthy and free meals a year.
All FareShare’s meals are cooked by volunteers, including Westpac staff; over 70 employees have contributed 250 volunteer hours in the past 12 months. With support from Westpac Foundation, FareShare has started a new program ‘Schools in the Kitchen’, enabling secondary school students to help cook meals for people doing it tough.
So far over 50 schools have participated in the program, engaging over 1,200 students. They learn about food waste in the community and how food rescue can help.
To date students have cooked over 40,000 meals from rescued food. For many students it’s an eye opening experience. For others it’s something they have already experienced. One student sharing how his family had benefited from FareShare meals in the past.
Due to its success and popularity, FareShare plans to expand the program further, with 3,000 students expected to participate next year.
Every dollar you donate goes directly to organisations like FareShare that are supported by our Family of Giving (we don’t spend any donations on administration), comprising Westpac Group’s four charitable funds. Gifts over $2 are tax deductible and you will retain any franking credits should you donate part of your dividend.
To join our Dividend Donation Plan and support Australians in need, make your election online via our share registrar, Link Market Services (Link) Investor Centre or over the telephone. Link’s contact details are on the back page.
For more information please visit westpac.com.au/familyofgiving
Every dollar donated goes directly to organisations like FareShare.
Free meals being served in Dandenong, Victoria. Photo by Valeriu Campan courtesy of Leader Newspapers.
2013 PERFORMANCE HIGHLIGHTS
DIVIDEND DONATION PLAN: SUPPORTING AUSTRALIANS IN NEED
COMMON EQUITY TIER 1 CAPITAL RATIO
9.1% Capital ratio remains above the Group’s preferred range of 8.0% to 8.5%
1. Cash earnings is net profit attributable to equity holders adjusted for the impact of treasury shares, fair value changes on economic hedges of hybrid instruments, amortisation of certain intangibles and one-off significant items not part of ongoing business operations.
2. Figures for 2009 are presented on a pro forma basis, that is as if the merger between Westpac and St.George Bank Limited was completed on 1 October 2008.
CASH EARNINGS ($m)1,2
$7,097m, up 8%2013
2012
2011
2010
2009
7,097
6,598
6,301
5,879
4,675
DIVIDENDS PER ORDINARY SHARE (¢)
174¢, up 5%2013
2012
2011
2010
2009
174 20
166
156
139
116
plus 20¢ special dividend
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2013 Westpac Group Shareholder Newsletter | 3
Westpac Group’s 2013 reporting suite gives a comprehensive overview of our performance for the year. The elements of the suite include our:• Annual Review and Sustainability
Report: brings together the key elements of our financial and sustainability reporting in a short-form report
• Annual Report: contains the full annual report including the audited financial statements
• Full year results announcement: comprises financial results, an investor discussion pack and an archived webcast of the presentation from 4 November 2013 featuring Gail Kelly, Westpac Chief Executive Officer and Phil Coffey, Westpac Chief Financial Officer.
THE STRENGTH WE’VE BUILT TODAY…
2013 ANNUAL REVIEW AND SUSTAINABILITY REPORT
STRENGTH RETURN GROWTH PRODUCTIVITY
2013 ANNUAL REPORT
STRENGTH RETURN GROWTH PRODUCTIVITY
THE STRENGTH WE’VE BUILT TODAY IS DELIVERED IN OUR RESULTS.
2013 REPORTING SUITE
See it all online, visit our Investor Centre at www.westpac.com.au/investorcentre for our full 2013 reporting suite.
FINANCIAL CALENDAR
Westpac Ordinary Shares (ASX code: WBC)
Record date 14 November 20131
Annual General Meeting 13 December 2013Final dividend payable 19 December 2013Financial Half Year end 31 March 2014Interim results and dividend announcement 5 May 2014Ex-dividend date for interim dividend 12 May 2014Record date for interim dividend 16 May 20142,3
Interim dividend payable 2 July 20143
Financial Year end 30 September 2014
Final results and dividend announcement 3 November 2014
Ex-dividend date for final dividend 10 November 2014
Record date for final dividend 14 November 20144,5
Annual General Meeting 12 December 20146
Final dividend payable 19 December 20144
1. Record date for 2013 final dividend in New York – 13 November 2013.2. Record date for 2014 interim dividend in New York – 15 May 2014.3. Dates will be confirmed at the time of announcing the 2014 interim results. 4. Dates will be confirmed at the time of announcing the 2014 final results.5. Record date for 2014 final dividend in New York – 13 November 2014.6. Details regarding the location of this meeting will be contained in the Notice of Meeting sent to shareholders in November 2014.
Westpac hybrid and notes calendarsVisit our Investor Centre at www.westpac.com.au/investorcentre for all the key dates for our hybrid instruments: Westpac SPS II, Westpac CPS, Westpac Capital Notes, Westpac Subordinated Notes and Westpac Subordinated Notes II.
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Managing your shareholdingPlease contact our share registrar, Link Market Services Limited (Link) and have your holder number (HIN or SRN) handy. If you can’t find it, Link can assist by sending out a replacement holding statement to the registered address for the holding.
Dividend payment optionsDividend payments to residents of Australia, New Zealand and the United Kingdom will be made by direct credit or via the Dividend Reinvestment Plan (available in Australia and New Zealand). No cheque payments will be made.
Please ensure your direct credit details are up-to-date. If you have not provided your details and your dividend(s) has been withheld, please contact Link via the details below.
Share RegistrarLink Market Services Limited.
Tel: + 61 1800 804 255 (toll free within Australia)
Online: You can view your holding details and amend your instructions (for holdings worth less than $50,000) online at Link’s website www.linkmarketservices.com.au.
Shareholders on the New Zealand sub-register please visit this website www.linkmarketservices.co.nz.
About the Westpac GroupFind out more about the Westpac Group by visiting our dedicated Investor Centre at www.westpac.com.au/investorcentre.The site houses a raft of information including annual reports, profit announcements, our detailed investor discussion packs, dividend and dividend reinvestment plan history, links to our share price and ASX announcements.
