Is this ASX 200 share really offering a dividend yield above 30%?

It’s been a good year so far for those invested in S&P/ASX 200 Index (ASX: XJO) coal share Coronado Global Resources Inc (ASX: CRN).

The stock has lifted a whopping 50% since the start of 2022. Meanwhile, the company’s earnings have taken off amid soaring coal prices.

In turn, those holding the ASX 200 share have been on the receiving end of some notable dividends. Indeed, Coronado announced another special dividend this morning.

So, with the Coronado share price currently trading 3.36% higher than its previous close at $1.9225, does the stock offer a dividend yield of more than 30%? Keep reading to find out.

Does this ASX 200 share really boast a 31% dividend yield?

ASX 200 coal producer Coronado has been on a roll this year, posting yet another strong quarter this morning.

The company brought in US$875 million of revenue for the September quarter – a 15.3% fall on that of its record June quarter. Its realised metallurgical coal price last quarter was US$253 per tonne – a 21.2% quarter-on-quarter fall.

Over the course of 2022 so far, it’s declared US$2.85 billion of revenue – more than double what it had this time last year.

On the back of its recent performance, the ASX 200 share announced a US 13.4 cent special dividend today.

That’s around 21 Australian cents at today’s exchange rate. The company will announce the official currency conversion on 21 November.

The coal miner previously declared two special dividend worth a combined US 11.9 cents (16.66 cents) in May and two ordinary dividends in February and August, worth US 9 cents (12.19 cents) and US 7.5 cents (10.86 cents) respectively.

Assuming its latest dividend does come in at 21 Aussie cents, the five offerings total an impressive 60.71 cents.

Considering this figure, the ASX 200 share could trade with a whopping 31.5% dividend yield.

However, it’s worth noting that special dividends typically aren’t factored into a company’s yield. Thus, without considering the special offerings, Coronado shares currently trade with a 12% dividend yield – certainly nothing to scoff at.

The post Is this ASX 200 share really offering a dividend yield above 30%? appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper 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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