If it’s passive income you’re after, you may wish to run your slide rule across New Hope Corp Ltd (ASX: NHC).

Fuelled by record high prices for thermal coal in 2022, the S&P/ASX 200 Index (ASX: XJO) coal share saw its half-year profits to 31 January more than double from the corresponding six-month period.

In a pleasing development for income investors, New Hope’s board divvied out some of the miner’s booming fortunes with shareholders. The past 12 months have seen the company declare an all-time high interim and an all-time high final dividend, both fully franked.

New Hope paid a 56 cents per share final dividend on 8 November. The miner will pay a 40 cents per share interim dividend this Wednesday, 3 May. The coal stock traded ex-dividend on 17 April.

Atop this welcome passive income, New Hope shares have also delivered some outsized capital gains.

After closing up 3.3% yesterday to $5.23 per share, the New Hope share price is up 44% over the past year.

Of course, some ASX 200 investors are making out better than others.

Please do note that future dividends paid by New Hope could be higher or lower depending on numerous company-specific and broader macroeconomic factors.

Drilling into New Hope shares for passive income

All up, New Hope delivered a total dividend payout of 96 cents per share over the last 12 months. (Or will have done so on Wednesday, when the final dividend lands in shareholders’ bank accounts.)

At yesterday’s closing price of $5.20 per share, that works out to a fully franked trailing yield of 18.4%.

That equates to $184 in annual passive income from a $1,000 investment.

That’s certainly praiseworthy.

But investors who – through sheer luck or perhaps good investment advice – bought shares near the lows last June will be earning a good bit more passive income than that.

On 20 June last year, the New Hope share price closed at $3.21. If you’d bought $1,000 worth of shares near market close on the day, you’d be earning a yield of 30.0%.

Or a whopping $300 a year in passive income from that $1,000 investment. Not to mention the 63% share price gain.

The post Looking for passive income? Here’s the yield you’re earning if you bought New Hope shares in June appeared first on The Motley Fool Australia.

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More reading

• Why Alumina, New Hope, Virgin Money, and Vulcan Energy shares are falling
• Directors are still buying the dip in New Hope shares. Should you?
• How I’d invest $1,000 in May to make easy passive income
• ASX 200 dividend stocks: Here’s a diamond in the rough yielding 18%!
• 12 ASX dividend shares with yields over 10%. Are they too good to be true?

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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