Is the Westpac share price a buy for passive income?
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The Westpac Banking Corp (ASX: WBC) share price has had a solid last 12 months, rising by more than 20%. However, one of the negatives of that is that it has pushed down the prospective dividend yield for new investors.
When the share price of a business climbs, new buyers won’t get as much passive income for their investment dollars. For example, if a business has a 5% dividend yield and the share price rises 5%, the dividend yield becomes 4.55%.
Is the Westpac dividend yield attractive enough for income-seekers at the current Westpac share price? Let’s take a look.
Current passive income
The last two payments by the ASX bank share came to $1.52 per share.
At the current Westpac share price, the last 12…
