CBA.ASX delivered NPAT of $9.45b an increase of 3% on the same time last year. Fully franked final dividend of $2.22 per share.
Fy17 EPS growth outlook for 3% placing CBA on an FY17 forward yield of 5.5%.
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Best risk reward strategy from here with CBA is to sell European calls at the $75.71 level into Sept for a $2.10 credit, which will keep exposure to the Aug dividend and deliver $4.32 of cash flow from each CBA share, whilst providing some downside protection. For help on this one, please email me leon@investorsignals.com
