Looking to bag the bolstered Soul Patts dividend? Here’s what you need to know

Washington H Soul Pattinson and Co Ltd (ASX: SOL) could be the market’s most consistent dividend share.

Not only is it the only All Ordinaries Index (ASX: XAO) stock to have paid a dividend every year since listing (way back in 1903, I might add), but it’s also grown its offerings every year for the last 23 years.

And the investment house kept its track record alive yesterday when it declared a 36 cent per share interim dividend. That marked a 24% jump on that of the prior comparable period.

No doubt the news piqued the interest of many passive income investors. So, without further ado here are all the need-to-know details regarding the S&P/ASX 200 Index (ASX: XJO) staple’s upcoming payout.

The Soul Patts share price last traded at $28.91.

All the details on Soul Patts’ record interim dividend

The Soul Patts share price jumped 1.3% on Thursday after the company declared a 36-cent per share interim dividend – a new record for its kind.

The offering will be fully franked, meaning it could bring tax benefits to some investors.

The ASX 200 share will trade ex-dividend on 19 April with the payout hitting bank accounts from 12 May.

Investors need to be on board the stock before its ex-dividend date in order to qualify to receive the dividend.

The company pays dividends out of its net cash flows from investments. They jumped 35% last half to reach $246.5 million on higher dividends from its strategic portfolio and contributions from Milton.

Looking longer-term, those holding Soul Patts shares have seen their interim dividends realise a compound annual growth rate (CAGR) of 9% over the last two decades.

In that time, the investment house has brought about a total shareholder return of 12.3% per annum.

Considering its newly declared interim dividend and its recent final dividend, Soul Patts shares currently offer a 2.73% dividend yield.

The ASX 200 giant will likely reveal its next final dividend alongside its full year earnings in late September.

The post Looking to bag the bolstered Soul Patts dividend? Here’s what you need to know appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. 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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