If you invested in Santos Ltd (ASX: STO) for its dividend payout youâll like what the S&P/ASX 200 Index (ASX: XJO) energy stock reported today for its full 2022 financial results.
Hereâs why.
Santos dividend boosted by 78%
There were a number of noteworthy highlights in the Santos full-year results.
These included a 160% year on year increase in underlying profit, which came in at US$2.5 billion.
The big profit boost and record annual revenue of US$7.8 billion was fuelled by record production of 103.2 million barrels of oil equivalent (mmboe). Thatâs an increase of 12% from 2021 production levels.
Which brings us to the big Santos dividend.
On the back of those strong results, the board declared a final unfranked dividend of 15.1 US cents per share. Thatâs up a whopping 78% from the final dividend in 2021.
While the dividend was declared in US currency, ASX investors will receive the payout in Aussie dollars.
At the time of writing, AU$1 is equal to 68.4 US cents, meaning the Santos dividend, if paid out today, would equate to just under 22.1 Aussie cents per share.
That may not be precisely what ASX investors receive, mind you.
Santos will determine the US dollar exchange rate for the payout on 2 March.
If youâd like to receive the boosted dividend, youâll need to own shares before Monday, 27 February. Thatâs when the stock trades ex-dividend.
Investors can expect to be paid on 29 March.
And interested investors can participate in Santos’ dividend reinvestment plan (DRP).
The post The Santos dividend just rocketed by 78%. Here’s the lowdown appeared first on The Motley Fool Australia.
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More reading
- Santos share price marches higher on surging dividend payout
- 5 things to watch on the ASX 200 on Wednesday
- 5 things to watch on the ASX 200 on Tuesday
- Here are the best ASX shares to buy for the coming decade: Firetrail
- 5 things to watch on the ASX 200 on Monday
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 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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