Everything you need to know about the latest Premier Investments monster dividend

The Premier Investments Limited (ASX: PMV) share price was a very strong performer on Thursday.

The retail conglomerate’s shares rocketed higher after investors responded positively to the release of a better than expected full year result.

What happened in FY 2022?

For the 12 months ended 30 July, Premier reported a 5.2% increase in global sales to $1,497.5 million. This was despite the company losing 42,675 trading days from COVID-related store closures.

Goldman Sachs was impressed with its performance. It commented:

PMV reported strong FY22 results with Sales +3.8% YoY (+6% vs GSe, +4% vs Factset Consensus) and normalized NPAT +7.4% YoY (29% vs GSe, 9% vs Factset Consensus). The beat was largely driven by stronger than expected sales across all key segments, with Peter Alexander (+10% vs GSe), Smiggles (+7% vs GSe) and Apparel Brands (+3% vs GSe), while expenses were largely in-line with GSe.

Also getting investors excited was the Premier Investments dividend for FY 2022.

The Premier Investments dividend

In light of its strong performance, the Premier Investments board declared a fully franked final dividend of 54 cents per share and a fully franked special dividend of 25 cents per share.

This took its full year dividend to $1.25 per share, which was up a massive 56.3% year over year.

Based on the current Premier Investments share price of $23.25, this represents a very generous 5.4% dividend yield.

To qualify for the final and special dividends, investors will need to snap up shares before they trade ex-dividend. But unlike most companies that pay their dividends within a month to six weeks of their results, this won’t be happening any time soon.

For reasons unknown, Premier Investments’ shares won’t be trading ex-dividend until 10 January 2023. The company will then pay these dividends to shareholders in just under four months from today on 25 January 2023.

The post Everything you need to know about the latest Premier Investments monster dividend appeared first on The Motley Fool Australia.

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• Premier Investments share price jumps 7% on record FY22 profits and special dividend

Motley Fool contributor James Mickleboro 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 recommended Premier Investments Limited. 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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