On the hunt for passive income? Here’s what you need to know about the record Ampol dividend

The all-time high final Ampol Ltd (ASX: ALD) dividend, revealed today, will come as good news to passive income investors.

The S&P/ASX 200 Index (ASX: XJO) energy stock reported its full-year results this morning.

If it’s some handy passive income you’re after, here’s what you need to know about the Ampol dividend.

Ampol dividend hits all-time high!

Among the highlights of 2023, the ASX 200 energy stock reported a 2% year-on-year boost in earnings before interest and tax (EBIT) – excluding significant items – to $1.30 billion.

This helped net borrowings come down to $2.20 billion, as at 31 December, from the $2.46 billion reported at the end of 2022.

And while statutory net profit after tax (NPAT) declined 25% year on year to $549 million, this didn’t deter management from declaring a record final dividend payout.

This came in the form of a fully franked final dividend of $1.20 per share as well as a special dividend of 60 cents per share.

That equates to a final passive income payout of $1.80 per share. This is 16% higher than the final Ampol dividend in 2022 and notched a new record for the energy company.

For the full year, Ampol will have delivered a total of $2.75 per share in dividends. That equates to a total payout of $655 million, or 89% of NPAT, which is at the top of the company’s payout range.

At the current share price of $38.17, Ampol shares trade on a fully franked yield (part trailing, part pending) of 7.2%.

If you’d like to bank the record dividend payment, you’ll need to own shares at market close on 29 February. Ampol shares trade ex-dividend on Friday, 1 March. Eligible investors can then expect to see that passive income land in their bank accounts on 27 March.

Commenting on the all-time high Ampol dividend, CEO Matt Halliday said:

The balance sheet is strong, providing Ampol with the flexibility to invest in our core fuels and convenience businesses, and to prudently invest in the energy transition while delivering our highest ever dividends to shareholders.

The post On the hunt for passive income? Here’s what you need to know about the record Ampol dividend appeared first on The Motley Fool Australia.

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

• ASX 200 energy stock Ampol charging higher on record 2023 sales
• This ASX 200 energy stock is predicted to pay a dividend yield of almost 8%!
• Will Ampol shares pay another monster dividend in 2024?
• 3 high-yield ASX shares for considerable passive income (7%-plus dividends!)
• The 3 best ASX dividend shares for 2024

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.

from The Motley Fool Australia https://ift.tt/AJNSmQL