Act fast if you want to receive the next Telstra dividend

If you want to receive the next Telstra Group Ltd (ASX: TLS) dividend, then you will have to get a wriggle on.

That’s because it won’t be long until the telco giant’s shares trade ex-dividend.

When that happens, it means the rights to the upcoming dividend are settled.

The Telstra dividend

In case you missed it, earlier this month Telstra released its half-year results and declared its interim dividend for FY 2024.

Telstra reported a 1.2% increase in total income to $11,700 million and a 3.1% lift in underlying EBITDA to $4,001 million.

This allowed its board to increase its fully franked interim dividend by 5.9% to 9 cents per share.

Management points out that this is consistent with its capital management framework to maximise the fully franked dividend and seek to grow it over time.

What next?

Telstra’s shares are scheduled to go ex-dividend on Wednesday 28 February. This means that you will have to be on its share register at the market close on Tuesday to receive its payout on pay day.

If you are eligible, you can look forward to receiving the 9 cents per share Telstra dividend in your bank account a month later on 28 March.

Based on the current Telstra share price of $3.87, this dividend equates to a yield of 2.3%.

And with the market expecting a 9 cents per share final dividend to be declared in August, you’re looking at a 12-month dividend yield of approximately 4.6% if buying at current prices.

The good news is that Goldman Sachs then expects an increase to 19 cents per share in FY 2025 and then 20 cents per share in FY 2026. This will mean yields of 4.9% and 5.15%, respectively.

The post Act fast if you want to receive the next Telstra dividend appeared first on The Motley Fool Australia.

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More reading

• 3 ASX dividend shares to buy before it’s too late
• 3 of the safest ASX 200 dividend shares in Australia right now
• 3 ASX shares to buy and hold forever
• 25 ASX 200 shares with ex-dividend dates next week
• Buy these ASX 200 dividend shares for a big income boost

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group. The Motley Fool Australia has positions in and has recommended Telstra 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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