If youâre wanting to receive the upcoming Bank of Queensland Ltd (ASX: BOQ) dividend, then you will need to act fast.
Thatâs because, it will soon be time for the regional bankâs shares to trade ex-dividend.
The Bank of Queensland dividend
As a reminder, last month the bank released its half-year results.
For the six months ended 28 February, Bank of Queensland reported a 4% decline in cash earnings to $256 million. Management revealed that its earnings were supported by a margin tailwind, which materially reduced over the last two months of the half due to heightened mortgage and deposit competition.
However, this margin uplift was offset by a 7% increase in expenses. The company is now attempting to combat this with a simplification program.
In light of its earnings decline, it will be no surprise to learn that the Bank of Queensland interim dividend was cut by 9% to a fully franked 20 cents per share.
The good news, though, is that recent weakness in the Bank of Queensland share price means that this dividend equates to an attractive 3.4% yield. And thereâs still a final dividend to come later this year!
Going ex-dividend
As mentioned above, if you want to receive the Bank of Queensland dividend, you will need to make an investment today or tomorrow.
Thatâs because the bankâs shares will trade ex-dividend on Wednesday, which means that the rights to the payout will have been finalised and those holding shares at Tuesdayâs market close will receive the dividend even if they sold their holding the next day.
If you do own shares or plan to, you can look forward to receiving this dividend in your bank account in a touch over three weeks on 1 June.
The post Hoping to bag the next Bank of Queensland dividend? You’d better be quick appeared first on The Motley Fool Australia.
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More reading
- The Bank of Queensland share price crumbled 11% in April. Here’s why
- Bank of Queensland share price dips following more losses for US regional banks
- Why did the Bank of Queensland share price just hit a new 52-week low?
- Bought $2,000 of Bank of Queensland shares five years ago? If so, hereâs how much dividend income youâve earned
- Lowest ASX bank yield: Are CBA shares still worth it?
Motley Fool contributor James Mickleboro 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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