The Telstra dividend is being paid today. Here’s the latest

For Telstra Corporation Ltd (ASX: TLS) shareholders, surely the two most important dates on the calendar are the days that investors receive their cherished dividend payments.

As the dominant telco in Australia, Telstra shares have been famous for their dividends ever since the company was first listed on the ASX back in the 1990s.

The company’s dividend payments have had a lot of ups and downs over the company’s long history. But the telco undoubtedly remains one of the favourite ASX blue chip shares when it comes to dividend income.

So it goes without saying that today would be a very happy day for Telstra shareholders. That’s because it’s dividend payday.

When Telstra revealed its FY22 full-year earnings last month, it contained a bit of a surprise. For several years now, Telstra has doled out two fully franked dividend payments worth eight cents per share every year.

Telstra shares pay out with a dividend raise

But this year, Telstra revealed that its investors would be treated with a dividend pay raise. It’s the first investors have enjoyed since 2016. Yes, Telstra’s final payout for FY22 will come in at a fully franked 8.5 cents per share instead of the usual eight cents.

And this dividend is coming shareholders’ way today. That’s after Telstra shares traded ex-dividend on 24 August last month.

The dividend was originally scheduled to be paid out tomorrow. But in light of the public holiday commemorating the passing of Queen Elizabeth II, this has been changed. Telstra announced last week that the payment would be brought forward by one day so as not to fall on the public holiday.

Investors will either be receiving a cash payment today. Or else receiving additional Telstra shares if investors opt for the optional dividend reinvestment plan (DRP).

At the current Telstra share price of $3.80 (at the time of writing), this dividend payment brings the company’s dividend yield to 4.34%. That’s 6.2% grossed up with the full franking credits.

The post The Telstra dividend is being paid today. Here’s the latest appeared first on The Motley Fool Australia.

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• $18 billion of ASX dividends are being paid out this week. Here’s the lowdown
• Could this prove to be a new cash cow for Telstra shares?
• Experts name 2 ASX dividend shares for your retirement portfolio
• Why the Telstra share price could actually be a growth opportunity: fundie

Motley Fool contributor Sebastian Bowen has positions in Telstra Corporation Limited. 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 positions in and has recommended Telstra Corporation Limited. 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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