The WiseTech Global Ltd (ASX: WTC) share price has been climbing of late, adding to its gains from last week.
This comes despite the logistics solutions company not releasing any price-sensitive announcements to the ASX this week.
At yesterday’s market close, WiseTech shares finished 2.39% higher to $45.36 apiece.
WiseTech shares set to go ex-dividend
While the company has been quiet on the news front lately, investors are buying up WiseTech shares.
This is most likely because of the upcoming ex-dividend date for WiseTech shares.
Investors need to buy WiseTech shares before market close on Thursday to be eligible for the interim dividend. The ex-dividend date is Friday 11 March.
It’s worth noting though that, historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend.
When can WiseTech shareholders expect payment?
For those who are eligible for the WiseTech interim dividend, shareholders will receive a payment of 4.75 cents per share on 8 April. The dividend is also fully franked which means shareholders can expect to receive tax credits from this.
In addition, investors can elect for the dividend reinvestment plan (DRP) which will add a portion of shares to their portfolio instead.
There is no DRP discount rate, however, the price will be determined by the daily volume-weighted average (VWAP) from 16 March to 22 March.
The last election date for shareholders to opt-in to the DRP is on 15 March.
The $16.8 billion half-year dividend represents a payout of 20% of underlying net profit after tax (NPAT).
WiseTech share price snapshot
Since the beginning of 2022, the WiseTech share price has fallen more than 22% but is up around 73% in the last 12 months.
The company’s shares reached a 52-week high of $60.40 in December, before treading 25% lower on today’s price.
WiseTech commands a market capitalisation of roughly $14.80 billion and has a trailing dividend yield of 0.14%.
The post Time is running out to lock in the WiseTech (ASX:WTC) dividend. Here’s why appeared first on The Motley Fool Australia.
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More reading
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- Top brokers name 3 ASX shares to buy next week
- ASX tech shares have been smashed today as market hits 3-week low
- Why Accent, Healius, PEXA, and WiseTech shares are rising today
- Great expectations: Why is the Wisetech (ASX:WTC) share price not gaining more today?
Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended WiseTech Global. The Motley Fool Australia owns and has recommended WiseTech Global. 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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