National Australia Bank Limited (ASX:NAB) has launched a capital raising which comprises of a fully underwritten institutional share placement of $3 billion plus a non-underwritten Share Purchase Plan (SPP) to raise ~ $500 million.
The measures taken by National Australia Bank are to build capital via an equity raising & a cut in the interim dividend, because of the ambiguous economic stance as a result of COVID-19 disease. These actions would provide NAB with adequate capacity to continue assisting its customers through the challenging times ahead & improve its capital level to help in managing a range of possible scenarios which includes prolonged and severe economic downturn.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.