0322 GMT - National Australia Bank is likely to cut its dividend two years from now, Macquarie analysts warn. They still see NAB as "the better horse in a slow race" between bank stocks, but tell clients in a note that limited inorganic capital generation and only 30 basis points of surplus capital lead them to predict a cut in the first half of the 2027 fiscal year. They think that NAB's margins will hold up better than those of its rivals amid lower interest rates, and see early signs of progress as NAB focuses on deposit growth and stability in proprietary mortgages. Macquarie keeps a neutral rating and A$35.00 target price on the stock, which is up 1.6% at A$36.45. (stuart.condie@wsj.com)
(END) Dow Jones Newswires
May 07, 2025 23:22 ET (03:22 GMT)
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