Whitehaven Coal Ltd (ASX: WHC) shareholders had a very nice day yesterday. Thursday’s trading session saw the Whitehaven share price spike by a pleasing 5.55% up to $7.42 a share.

But no doubt today will also be a happy day for shareholders, regardless of what the Whitehaven share price does. That’s because today is payday for the latest (and monstrous) Whitehaven dividend.

Last month, Whitehaven delivered its latest earnings report, covering the half-year to 31 December 2022. It was an objectively impressive report, with Whitehaven announcing a 164% rise in revenues, as well as a massive 423% surge in net profits after tax (NPAT).

This enabled the company to announce a gargantuan interim dividend of 32 cents per share, fully franked. That’s up an eye-watering 300% on last year’s interim dividend of 8 cents per share, and the largest interim dividend Whitehaven has ever forked out.

Whitehaven shareholders set for dividend jackpot

As we warned last month, the ex-dividend date for this payment was on 23 February. So any shareholders who opened a position in Whitehaven after that date will miss out on this dividend.

But those lucky investors who had the shares in their name before 23 February are set to see this shareholder payment hit their bank accounts today.

Together with Whitehaven’s final dividend of 40 cents per share, also fully franked, that we saw in the back half of last year, this company has now paid out a total of 72 cents per share over the past 12 months.

That gives Whitehaven shares a trailing dividend yield of 9.7% on yesterday’s closing share price. That grosses up to a whopping 13.96% with the value of those full franking credits.

So no doubt today is a happy day for most Whitehaven shareholders.

Saying that, Whitehaven has had a rough start to 2023. Year to date, this ASX 200 energy share is down around 16%, as well as being down more than 33% from Whitehaven’s 52-week high of $11.04 a share. But even so, Whitehaven still remains up a happy 88% or so over the past 12 months:

So despite the rough start to 2023 Whitehaven shares have had, it’s hard to feel too sorry for shareholders of this ASX 200 coal share today.

The post The whopper Whitehaven dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia.

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More reading

• Is the party well and truly over for ASX 200 coal shares?
• Passive income watch: Here are the ASX 200 shares that delivered some of the biggest dividend boosts this earnings season
• Here are the top 10 ASX 200 shares today
• 3 ASX 200 shares you might not know are trading ex-dividend today
• Why is the Whitehaven share price taking a thumping on Thursday?

Motley Fool contributor Sebastian Bowen 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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