ANZ Capital Notes Issue March 2015

[macduffy]

Fair comment, Roger.

It only makes sense once a decision is made in favour of investing in ANZ over, say, HNZ. A Kiwi investor is unlikely to get much benefit from imputation/franking from ANZ; the ANZ shareprice is pretty much at an all-time high; current dividend yield is around 4.5% and likely capital requirement constraints will limit future dividend increases for a few years at least.

I hope your contact is investing in the context of his/her $2m-$3m diversified portfolio!