The Woodside Petroleum Limited (ASX: WPL) share price is edging higher amid the company’s eligible shareholders being rewarded today.
The energy giant’s shares are currently up 0.09% to $32.19 apiece. This means its shares have risen more than 3% in the past week, and almost 10% in a month.
In context, the S&P/ASX 200 Index (ASX: XJO) is climbing higher on Wednesday. The benchmark index is up 0.54% to 7,380.5 points.
Woodside pays out FY21 dividend
Woodside reported strong growth across key metrics in its results for the 2021 financial year.
In summary, underlying net profit after tax (NPAT) surged 262% year-on-year to US$1,620 million. Higher realised prices in gas and oil, as well as improvement in sales volumes, underpinned the result.
The board declared a fully franked final dividend of US 105 cents per share to be paid on 23 March (today). This is a significant increase on the first-half dividend of US 30 cents and the FY20 final dividend of US 12 cents.
When calculating against the current share price, Woodside is trailing on a forecast fully franked dividend yield of 6.29%. In addition, the payout ratio is calculated to be around 80% or US$1,018 million of the energy giant’s underlying NPAT.
Woodside’s dividend policy remains unchanged following a review in 2021. The group noted that the dividends will continue to be based on NPAT, excluding non-recurring items, with a minimum 50% payout ratio.
The NPAT basis helps preserve cash and protect Woodside’s balance sheet in periods of low commodity pricing.
The targeted payout ratio is between 50% and 80%.
Woodside share price snapshot
Following the uptrend, the Woodside share price has gained around 32% in the last 12 months. When looking specifically at year to date, its shares are hovering around 46% higher.
Woodside commands a market capitalisation of roughly $31.22 billion.
The post The Woodside (ASX:WPL) dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia.
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More reading
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- Woodside (ASX:WPL) shares spike as oil rises back above $100/barrel
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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. 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 Bruce Jackson.
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