It hasn’t been a very pleasant day for the CSL Limited (ASX: CSL) share price so far today. Or the S&P/ASX 200 Index (ASX: XJO) for that matter. At the time of writing, the ASX 200 has fallen by 1.36% and is back under 7,100 points. As it currently stands, CSL shares are trading at $254.83 each, down 1.04% so far today.
it appears the announcement that CSL made last night hasn’t been enough to buck the trend of the broader market. Although, it’s worth saying that perhaps it has been enough to give the healthcare giant a slight edge over the ASX 200.
As my Fool colleague James covered this morning, CSL has announced an update regarding its major acquisition plans. Back in December last year, CSL announced it was intending to acquire the Swiss biotech company Vifor Pharma for US$12.3 billion in cash. Well, we got an update on this proposed buyout after market close yesterday.
CSL revealed that 74% of Vifor shares have been tendered as part of its public tender offer. Originally, the deal had an 80% target. However, CSL has decided to waive this requirement and will be pressing ahead with the deal. It still plans to have the acquisition cross the finish line by mid-2022.
So perhaps this development is having an impact on the CSL share price so far this Friday.
CSL shares to pay out next month
But there is also a big event for CSL coming up next week.
Monday will see this healthcare share trade ex-dividend for its upcoming interim dividend payment. This dividend was announced when the company delivered its half-year earnings results last month. The dividend investors are to receive will be a US$1.04 payment, which will be worth approximately A$1.42 per share going off current exchange rates. The raw US$1.04 payment is flat on last year’s interim dividend. It will come unfranked.
So today is effectively the last day that investors can buy CSL shares if they want to receive this dividend. Come Monday, any new investors will be ineligible, and as such, the value of this dividend will leave the CSL share price. So don’t be surprised if we see a share price fall for CSL on Monday. But investors will have to wait until April 6 to see this dividend hit their bank accounts. Something to look forward to.
At the current CSL share price, this ASX 200 healthcare share has a market capitalisation of $123.27 billion, with a dividend yield of 1.02%
The post The CSL (ASX:CSL) share price is falling today, but here’s what investors can look forward to next week appeared first on The Motley Fool Australia.
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More reading
- Think you have the ‘right skills’ for investing in ASX shares? Read this
- CSL (ASX:CSL) share price on watch following Vifor Pharma acquisition update
- 5 things to watch on the ASX 200 on Friday
- Here are the top 10 ASX shares today
- ASX 200 (ASX:XJO) midday update: Corp Travel Management’s ACCC boost, Zip downgraded
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. owns and has recommended CSL Ltd. 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 Bruce Jackson.
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