Macquarie Group Ltd (ASX: MQG) shares are frequently sought out for their reliable dividend payments as well as a lengthy run of capital gains.
Since January 2013, the diversified S&P/ASX 200 Index (ASX: XJO) financial stock has gained some 400%.
And in 2013, and every year since then, Macquarie shares have also delivered two partly franked dividends. Thatâs placed it high on the radar of investors seeking some useful passive income.
So far in 2023, the Macquarie share price is up 6.5%. Shares closed yesterday trading for $174.84 apiece.
Whatâs the dividend yield on Macquarie shares bought on 3 October?
The Macquarie board declared a final dividend of $4.50 per share, 40% franked when the company reported its full-year results earlier this month.
With profits coming in at $5.2 billion, that was a 29% increase from the $3.50 final dividend Macquarie shares delivered the prior year.
The stock traded ex-dividend yesterday, 15 May. Shareholders will see that passive income land in their bank accounts on 4 July.
Together with the $3.00 per share interim dividend, paid out on 13 December, that adds up to a full-year payout of $7.50 per share.
Thatâs approximately $2.9 billion of passive income delivered to shareholders over the 12 months.
At the current share price, that equates to a trailing yield of 4.3%, with some potential tax benefits from the franking credits. Or $430 in annual passive income from a $10,000 investment.
Of course, like all stocks, Macquarie shares havenât gone up in a straight line. There are always plenty of dips and peaks along the way.
Well-advised, well-researched, or just plain lucky investors who bought shares on 3 October, when the stock closed for $151.41 per share, will be sitting pretty today.
First, theyâll have enjoyed a 16% lift in the Macquarie share price.
Even more importantly, from a passive income perspective, theyâll be earning a dividend yield of 5.0% on that investment.
Or a very handy $500 second income from that $10,000 investment. And, mind you, thatâs just since October.
The post Did you buy the October dip in Macquarie shares? Hereâs the dividend yield youâre now earning appeared first on The Motley Fool Australia.
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More reading
- The top 10 ASX shares held by millionaires
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- 2 top ASX 200 dividend shares to buy this week: brokers
- Here are the top 10 ASX 200 shares today
- ‘A quality franchise’: Why this broker sees major upside ahead for Macquarie shares
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 positions in and has recommended Macquarie Group. 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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