Hoping to dig into the record IGO Ltd (ASX: IGO) dividend? You’d better be quick. 

S&P/ASX 200 Index (ASX: XJO) lithium share IGO jumped onto income investors’ radars on the last day of January after the company reported very strong half-year results, including a record dividend.

The record IGO dividend won’t be available for long

With lithium prices hitting all-time highs in the latter months of 2022, the IGO board declared a fully franked interim dividend of 14 cents per share, setting a new record for the lithium producer.

Commenting on the results at the time, acting CEO Matt Dusci said, “We are delighted to report a highly successful and profitable half-year result, with the strength of our lithium business helping drive record earnings, record net profit and declaration of a record interim dividend.”

Indeed, IGO’s half-year of underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) of $834 million was up 269% from the $226 million reported in the first half of the 2022 financial year.

And net profit after taxes (NPAT) leapt 549% from the prior corresponding half-year to hit $591 million.

But we were talking about the IGO dividend.

Investors who want that payment to land in their bank account will need to own shares at the end of the day today.

IGO trades ex-dividend tomorrow, 16 March.

Eligible investors can expect to receive that payment on 31 March.

IGO share price snapshot

As you can see in the chart below, the IGO share price remains up 6% over the past 12 months, despite sliding from its late 2022 highs.

The post Hoping to dig into the record IGO dividend? You’d better be quick appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares trading ex-dividend on Thursday
• Why are ASX 200 lithium shares falling so hard today?
• Top brokers name 3 ASX shares to buy today
• What’s happening with ASX 200 lithium stocks this week?
• Investing in ASX 200 lithium stocks? Here’s why this 6% decline in China matters

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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