The Westpac Banking Corp (ASX: WBC) share price was a very positive performer on Monday.
The banking giant’s shares finished the day 5% higher at $26.23.
This means the Westpac share price is now up an impressive 33.5% since the turn of the year.
Why did the Westpac share price race higher?
Investors were scrambling to buy the company’s shares following the release of a strong half year result.
For the six months ended 31 March, Westpac reported first half cash earnings of $3,537 million. This was a 256% increase over the prior corresponding period and a 119% lift over the second half of FY 2020.
This strong form allowed the Westpac board to declare a fully franked interim dividend of 58 cents per share. If you annualise this,…