I am a retiree with $1.8m in my SMSF.
Recently dived into the banks for the upcoming dividends to the tune of $290k for ANZ, $290k for NAB and $160K for Westpac.
Now I’m reeling a bit after the NAB announcement, but have hung on and winced at the hit understandably. I bought NAB at $32.40 and ANZ at $28.90. Just looking for your thoughts on whether I should hold tight for longer term now, or take the loss. Do you think they will recover to these levels over next few years?
A: I think you need to be patient. Sentiment in the market is not good – but they are fundamentally sound businesses and I think they are going to work pretty hard to maintain their dividends.
Over the next couple of years, I would have every confidence that you will see these levels again.
