ANZ
(ASX:ANZ) has advised it intends to neutralise the impact of its Dividend Reinvestment Plan (DRP).
At the same time, the bank also confirmed there is in-sufficient clarity about the Australian Government’s proposed tax on bank liabilities, so it can accordingly update the market about the financial impact.
For the DRP, up to $176 million in shares are expected to be purchased on-market to satisfy ANZ’s DRP obligations.
The pricing period begins today and finishes on 25 May 2017.
ANZ appointed Merrill Lynch to execute the on-market share purchase.
Shares in ANZ
(ASX:ANZ) are currently flat at $29.30.
