Wesfarmers Ltd (ASX: WES) shares are up 2.3% to $49.82 per share on the back of a big interim dividend boost, announced this morning.
That came as the diversified S&P/ASX 200 Index (ASX: XJO) retail share reported its half-year earnings results for the six months ending 31 December (H1 HY23).
Hereâs everything you need to know about the boosted Wesfarmers dividend.
Whatâs happening with the Wesfarmers dividend?
The Wesfarmers board declared a fully franked 88 cent per share (cps) interim dividend.
Thatâs an increase of 10% from the 80 cents per share paid out in the first half of the 2022 financial year.
Wesfarmers said the payout reflects âWesfarmersâ dividend policy, which takes into account available franking credits, balance sheet position, credit metrics and cash flow generation and requirementsâ.
The big lift was made possible by a 14.1% year-on-year increase in net profit after tax (NPAT), which came in at $1.38 billion.
ASX 200 investors who want to receive the payout should note the ex-dividend date is next Monday, 20 February.
If you own shares before they trade ex-dividend you can expect the 80 cents per share payout on 28 March.
Wesfarmers also operates a dividend reinvestment plan (DRP). This enables you to automatically reinvest all or a portion of the payout into new shares.
If you wish to participate in this, the DRP election date is a week from today, Wednesday 22 February.
The post Everything you need to know about the boosted Wesfarmers dividend appeared first on The Motley Fool Australia.
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More reading
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Motley Fool contributor Bernd Struben 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 positions in and has recommended Wesfarmers. 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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