Want to score the boosted ANZ dividend? You better hurry!

Woman holding Australian dollar notes symbolising dividends.

Woman holding Australian dollar notes symbolising dividends.Looking to get in on the boosted Australia and New Zealand Banking Group Ltd (ASX: ANZ) dividend?

Then time’s running short.

The S&P/ASX 200 Index (ASX: XJO) bank stock trades ex-dividend on Monday.

Meaning if you want to grab the ANZ dividend, you need to own shares at market close today.

What kind of payout is the big four bank making?

ANZ reported its half-year results last Friday.

Among the highlights, the big four bank reported cash earnings of $3.8 billion, an increase of 12% from the corresponding six-month period.

That saw the board increase the ANZ interim dividend by 9.5% from the prior year to 81 cents per share, fully franked.

At yesterday’s closing price of $24.24, that equates to an instant yield of 3.3% from the single payout.

If you own shares when the closing bell rings today, you can expect the ANZ dividend to land in your bank account on 3 July.

The bank’s Dividend Reinvestment Plan (DRP) will be active for investors who prefer not to receive the cash payment. And there’s no limit on the number of shares that can participate in the DRP.

ANZ will neutralise the impact of the DRP by purchasing shares on market.

With CEO Shayne Elliot offering an optimistic outlook – citing “a robust capital position” and “a strong and diverse deposit base” – investors will be looking forward to the next round of ANZ dividends.

Though Elliot did caution on a potentially harder half-year ahead.

“The next six months will be more difficult than the last,” he said.

What is the ANZ dividend yield?

Atop the 81 cents per share interim dividend, ANZ shares also delivered a final dividend of 74 cents per share. That was paid out on December 15.

At yesterday’s closing price that works out to a trailing yield of 6.4%, with potential tax benefits from the franking credits.

The post Want to score the boosted ANZ dividend? You better hurry! appeared first on The Motley Fool Australia.

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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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