Shares in Bega Cheese Ltd (ASX: BGA) are rocketing higher today following news of the companyâs latest earnings and dividend.
The dairy giant declared a higher final dividend despite its financial year 2022 profits tumbling 69% year over year.
Right now, the Bega share price is up 11.5% to trade at $4.17.
Letâs take a closer look at todayâs news from the company and the next dividend investors will be receiving from it.
Bega offers 5.5-cent final dividend
The company revealed it will pay shareholders a 5.5-cent fully franked final dividend for financial year 2022.
That brings the companyâs full-year payout to 11 cents per share, a 10% increase on that of financial year 2021. It’s also on par with the highest ever offered by the company.
It also leaves its stock trading with a 2.6% trailing dividend yield at the time of writing.
The increase in dividends came despite Bega posting just $24.4 million of after-tax profits for the 12 months ended 30 June, representing a 69% year-over-year fall, as my Fool colleague Zach reports.
Its earnings before interest, tax, depreciation, and amortisation (EBTDA) also slipped 19% to $149 million. Though, its revenue rose 45% to $3 billion.
Bega is operating its dividend reinvestment plan (DRP) for its latest payout. Investors interested in receiving new shares in the company rather than a cash dividend have until 2 September to subscribe to the DRP.
The stock will trade ex-dividend from 31 August. Of course, that will likely see the Bega share price fall relatively in line with the value of the companyâs final dividend. Anyone buying into the company from then on will miss out on the payment.
Finally, the offering will begin to hit investorsâ accounts on 23 September.
The post Hereâs everything you need to know about the latest Bega dividend appeared first on The Motley Fool Australia.
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More reading
- Why Bega Cheese, Jumbo, Pilbara Minerals, and Qantas shares are rising
- Bega Cheese share price soars as net profit slides 69% year on year
- Here are the top 10 ASX 200 shares today
Motley Fool contributor Brooke Cooper 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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