On Friday, Pilbara Minerals Ltd (ASX: PLS) declared its first-ever dividend of 11 cents per share, fully franked.
The inaugural dividend will see the S&P/ASX 200 Index (ASX: XJO) lithium stock return some $330 million to shareholders.
The maiden Pilbara Minerals dividend came as the company reported some truly stellar results for the first half of the 2023 financial year (H1 FY23).
Top highlights included a 647% year-on-year increase in revenue, which hit $2.2 billion for the six months. And the statutory net profit after tax (NPAT) of $1.24 billion was up a whopping 989% from H1 FY22.
âThe stage is set for Pilbara Minerals to take massive growth steps in the months and years ahead. This is just the beginning,â CEO Dale Henderson said of those results.
On Pilbara Minerals’ maiden dividend, he added:
This result has enabled the board to declare an inaugural fully franked interim dividend of 11 cents per share. This is a huge milestone for Pilbara Minerals, and we are very pleased to be able to reward our shareholders who have had faith and stuck with us over the journey.
For ASX 200 investors looking to cash in on the dividend, time is running short.
When does Pilbara Minerals trade ex-dividend?
If youâd like to receive the first-ever Pilbara Minerals dividend, youâll need to own shares by market close tomorrow, Wednesday 1 March.
The ASX 200 lithium share trades ex-dividend on Thursday.
Payment is scheduled for 24 March.
At the current share price of $4.18, that works out to an immediate yield of 2.6%.
New Zealand shareholders will be paid in New Zealand dollars. Everyone else will receive the dividend payout in Aussie dollars.
How has the ASX 200 lithium stock been performing?
As you can see on the chart below, the Pilbara Minerals share price is up 12% so far in 2023 and up 55% over 12 months.
The post Looking to cash in on the inaugural Pilbara Minerals dividend? You better hurry! appeared first on The Motley Fool Australia.
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More reading
- Someone just sold $250 million of Pilbara Minerals shares. Here’s what we know
- 3 incredible ASX 200 growth shares to buy: analysts
- Here are the 3 most heavily traded ASX 200 shares on Monday
- Here’s what brokers are saying about the Pilbara Minerals share price
- Here are the 3 most heavily traded ASX 200 shares on Friday
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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