Attention Endeavour shareholders: Here’s some news on your dividends

Group of friends toasting with drinks

Group of friends toasting with drinks

It’s a happy day for Endeavour Group Ltd (ASX: EDV) shareholders this Friday. Not because Endeavour shares are performing well though. At present, the drinks and pubs company has lost a nasty 2.11% so far this Friday, putting the Endeavour share price at $7.18 a share.

That’s a significant underperformance of the broader market. The S&P/ASX 200 Index (ASX: XJO) is down by around 1.15% so far today.

So why is it a happy day for Endeavour shareholders then?

Well, because it’s dividend payday.

Endeavour shareholders to receive final dividend today

Last month, Endeavour reported its full-year earnings for FY22. These included the declaration that the company’s final dividend for FY22 would come in at 7.7 cents per share, fully franked.

Endeavour shares traded ex-dividend for this payment back on 31 August. So investors will have had to own Endeavour shares before that date to be eligible for this dividend.

The 7.7 cents per share payment represents a pleasing 10% rise over last year’s final dividend of 7 cents per share. This (ironically) was Endeavour’s first-ever dividend as an independent ASX company. Remember, this business was spun out of Woolworths Group Ltd (ASX: WOW) last year.

But the final dividend was a significant reduction from Endeavour’s last dividend, the interim payment of 12.54 cents per share that investors received back in March.

But regardless, no doubt this dividend hitting investors’ bank accounts today will be a happy occasion for shareholders. Investors will be receiving this dividend in cash, as Endeavour does not currently offer a dividend reinvestment plan (DRP) enabling investors to receive additional Endeavour shares instead.

At the current Endeavour share price, this latest dividend gives the company a dividend yield of 2.14%.

Endeavour shares have been a fairly excellent investment to have held since the company was spun off last year.

The Endeavour share price is up a robust 5.74% in 2022 thus far, and up 17.7% since its ASX float in June 2021. By contrast, the ASX 200 is down by 10.85% and 7.4% respectively over those same periods.

The post Attention Endeavour shareholders: Here’s some news on your dividends appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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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