The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price has edged higher following the company’s half year results today.
At the time of writing, the bank’s shares are up 0.81% to $27.48.
For context, the S&P/ASX 200 Index (ASX: XJO) is 0.10% lower to 7,308.7 points during afternoon trade.
What’s the go on the ANZ dividend?
In the half year report for the 2022 financial year, ANZ reported relatively stable growth across key metrics.
In summary, cash profit from continuing operations lifted by 4% to $3,113 million over the previous corresponding period. However, when comparing against the prior six months, this metric declined by 3%.
ANZ stated its Australia Retail and Commercial segment and its New Zealand segment underpinned the sound performance. Notably, this offset the poor result attained from the bank’s Institutional segment.
Overall, statutory net profit after tax (NPAT) rose to $3,530 million. This represents an increase of 20% from this time last year and a 10% improvement on the $3,219 million achieved in H2 FY21.
Based on the company’s cash profit above, the ANZ Board declared a fully franked interim dividend of 72 cents per share. This represents a 2% lift from the 70 cents declared in the prior comparable period.
Management noted that the latest dividend is consistent with its stated target dividend payout ratio of between 60% and 65%.
When can ANZ shareholders expect payment?
The ANZ interim dividend will be paid to eligible shareholders roughly 8 weeks away on 1 July.
However, to be eligible, you’ll need to own ANZ shares before the ex-dividend date which falls on 9 May. This means if you want to secure the dividend, you will need to purchase ANZ shares this Friday at the latest.
In addition, investors can elect for the dividend reinvestment plan (DRP) which will add a portion of shares to their portfolio instead. This will be based on a 10-day volume-weighted average price from 13 May to 26 May.
There is no DRP discount rate and the last election date for shareholders to opt in is on 11 May.
The post Everything you need to know about the latest ANZ dividend appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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