Everything you need to know about the Woolworths dividend

The latest earnings results from Woolworths Group Ltd (ASX: WOW) shares that were released this morning have been overshadowed somewhat by the dramatic departure of Woolworths CEO Bradford Banducci.

It certainly seems that way if one looks at the Woolworths share price at present. As we speak, Woolworths shares have tanked by a nasty 8.20% and are down to $32.93 each. WOW indeed.

However, Woolies still reported some interesting numbers today that all shareholders should take a look at. As my Fool colleague covered at the time, this morning saw the ASX 200 blue-chip stock and consumer staples giant reveal that its revenue had increased 4.4% over the six months to 31 December to $34.64 billion.

Profits before significant items also rose by 2.5% to $929 million. Saying that, Woolworths recorded a loss of $781 million after significant items, thanks mostly to a $1.5 billion non-cash writedown of Woolworths’ New Zealand business.

But let’s talk about the fresh Woolworths dividend.

Everything you need to know about the latest Woolworths dividend

So Woolworths revealed an interim dividend for 2024 of 47 cents per share, fully franked (as usual), this morning. That’s a 2.17% rise over the interim dividend from 2023, which came in at 46 cents per share.

Together with the final dividend of 58 cents per share that we saw doled out last September, it takes Woolies’ 12-month payouts to $1.05 per share.

If you don’t already own Woolworths shares but wish to receive this dividend, you have until the ex-dividend date of 28 February to pick up shares. After that date, all new Woolworths shareholders won’t have the rights to this dividend included in their purchase.

For eligible investors, dividend payday will then roll around on 11 April.

Woolworths is running its dividend reinvestment plan (DRP) for this upcoming dividend. If any investors wish to participate in this program and receive additional Woolworths shares in lieu of the traditional cash payment, they have until 1 March next month to elect to do so.

Woolworths shares are currently trading with a trailing dividend yield of 3.16%. However, factoring in this new dividend, we can now give the Woolworths share price a forward dividend yield of 3.21%.

The post Everything you need to know about the Woolworths dividend appeared first on The Motley Fool Australia.

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More reading

• Why Corporate Travel Management, Iress, Rio Tinto, and Woolworths shares are crashing
• Woolworths share price dives 7% following Banducci bombshell
• Woolworths shares on watch after CEO exit and $781 million loss
• If I invest $10,000 in Woolworths shares, how much dividend income will I receive in 2024?
• ASX blue chip shares: The best of the best for February 2024

Motley Fool contributor Sebastian Bowen 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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