Looking to bank the next BlueScope dividend? Here’s what to do

A challenging macroeconomic environment in recent weeks has seen the BlueScope Steel Ltd (ASX: BSL) share price come under selling pressure.

After touching a high of $18.02 following the company’s FY 2022 results, its 3.91% gain provided little relief to shareholders.

This is because China’s current property crisis and ongoing COVID-19 restrictions are causing weakened demand for iron ore.

Last Friday, the steel producer’s shares touched a one-month low of $15.74 per share.

However, it appears bargain hunters are swopping in to lift BlueScope shares by 1.55% to $16.35 at the time of writing.

Another catalyst for the short-term boost is because the share is about to trade ex-dividend tomorrow.

Here are all the details you need to know about the upcoming final dividend.

Time is running out for the BlueScope dividend

For investors looking to secure the latest BlueScope dividend, you’ll have by the end of today to pick up its shares.

This means if you buy the company’s shares today and hold them until tomorrow morning, you’ll be eligible for the dividend.

BlueScope is paying out an unfranked dividend of 25 cents per share which will be paid on 12 October.

It’s worth noting that the FY 2022 dividend is the same as the prior corresponding period when including FY 2021’s special 19-cent per share dividend.

In total, the company has paid out 50 cents in dividends for the 2022 financial year.

The board noted that having exhausted Australian tax losses in FY 2022, the company expects to be able to begin to frank dividends in FY 2023 and FY 2024.

BlueScope share price snapshot

Since the start of 2022, the BlueScope share price has tanked 22% as the price of iron continues to retreat.

In comparison, the S&P/ASX 200 Materials Index (ASX: XMJ) sector is down 8% over the same period.

BlueScope commands a market capitalisation of approximately $7.58 billion and has a dividend yield of 3.11%.

The post Looking to bank the next BlueScope dividend? Here’s what to do appeared first on The Motley Fool Australia.

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More reading

• 5 ASX 200 shares turning ex-dividend tomorrow
• ASX 200 shares declared $42b of dividends in August. Here’s how you can get a slice
• 3 ASX 200 shares having a super start to the week
• Why BlueScope, Carsales, Core Lithium, and Nearmap shares are racing higher
• Bluescope share price lifts 5% on record earnings

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 Scott Phillips.

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