Given the number of shares in issue, it seems to me that there is basically no dividend amount that wouldn't end up costing the bank a lot of money.
At the same time, they will eventually have to start paying a dividend at some stage. And since 1cent is just about the lowest amount you could possibly pick, it seems a pretty safe "prediction" to make.
Although whether its 2016, 2017 or later....who knows!
Richie Boucher has already said dividends would be only paid after 2009 prefs were redeemed(January 2016 earliest). Capital generation looks good enough to handle this without issue. A forecast of a penny per share on the current float seems a desperate bid to put some momentum in the stock.
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