Here are 3 ASX All Ords shares turning ex-dividend this week

The New Hope Corporation Limited (ASX: NHC) share price is rallying after getting hammered in early trade this morning.

At the time of writing, the S&P/ASX All Ordinaries Index (ASX: XAO) is storming 1.9% higher while New Hope shares are up 2% at the time of writing.

This is despite New Hope shares having turned ex-dividend today. In other words, New Hope shares are no longer trading with rights to the ASX 200 coal miner’s recently-declared monster dividend of 56 cents per share.

While New Hope has already called time on its latest dividends, three more ASX All Ords shares are going ex-dividend over the coming days. Let’s check them out.

Clover Corporation Limited (ASX: CLV)

First up is food technology company Clover, which will be turning ex-dividend tomorrow. This means that today is the final day to secure the company’s latest fully franked final dividend of 1 cent per share, which will be paid on 22 November.

Clover’s operations are underpinned by its microencapsulation technology, which enables nutritional oils such as tuna, fish, and fungal oils to be added to infant formula, foods, and beverages.

Clover handed in its FY22 results in September, headlined by 17% sales growth as net sales revenue came in at $71 million.

Momentum accelerated in the second half as international borders opened and order volumes from key infant milk manufacturers lifted. 

Despite operational challenges, the company grew its net profit after tax (NPAT) by 19% to $7 million. 

This helped the ASX All Ords share to hike its annual dividend payout to 1.5 cents, fully franked, putting Clover shares on a trailing dividend yield of 1.2%. Including franking credits, this yield bumps up to 1.7%.

McMillan Shakespeare Limited (ASX: MMS)

The next cab off the rank is salary packaging and novated leasing company McMillan Shakespeare. Its shares will turn ex-dividend on Wednesday, trading without claims to the company’s fully franked final dividend of 74 cents.

By the closing bell tomorrow, investors on McMillan’s share register can lock in a payment date of 10 November.

McMillan released its FY22 results back in August, delivering normalised revenue of $594 million, up 9% from the prior year.

The company noted that its customer focus drove business momentum across the year amid ongoing disruptions to the automotive supply chain.

Despite these challenges, the ASX All Ords share achieved statutory NPAT of $70 million, a 15% increase compared to FY21.

Across the financial year, McMillan declared total dividends of $1.08 per share, fully franked, up 76% from the dividends seen in the prior year. Given that profit only grew by 15%, this was largely due to a major lift in the company’s dividend payout ratio from 66% in FY21 to 100% in FY22. 

Based on current prices, McMillan Shakespeare shares are flashing an eye-catching trailing dividend yield of 8.0%. With the benefit of franking credits, this yield grosses up to 11.4%.

Bank of Queensland Ltd (ASX: BOQ)

Last but certainly not least, Bank of Queensland is the highest-profile name going ex-dividend this week.

As of Thursday, Bank of Queensland shares will no longer be trading with entitlements to the company’s fully franked final dividend of 24 cents per share. 

The bank has a dividend reinvestment plan (DRP) available, offering a 1.5% discount for shareholders who opt in. Those preferring to receive their dividends in cash should see the payment come through on 17 November.

The ASX 200 bank announced its FY22 results earlier this month. The bank’s net interest income decreased slightly by 1% to $1.5 billion, driven by a reduction in its net interest margin (NIM) which dropped by 12 basis points to 1.74%.

In comparison, Commonwealth Bank of Australia (ASX: CBA) reported a group NIM of 1.90% in FY22.

On the bottom line, Bank of Queensland reported statutory NPAT of $426 million, up 15% from the prior year. This helped the bank to raise its annual dividends by 18% to 46 cents per share, fully franked.

As a result, Bank of Queensland shares are currently trading on a sizeable trailing dividend yield of 6.1%, which grosses up to 8.6%.

The post Here are 3 ASX All Ords shares turning ex-dividend this week appeared first on The Motley Fool Australia.

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More reading

• The ASX 200 is roaring higher so why is the New Hope share price sinking 7%?
• 5 things to watch on the ASX 200 on Monday
• Why did ASX 200 coal shares have such a cracking Friday?
• Here are the top 10 ASX 200 shares today
• Hoping to dig into the monster New Hope dividend? Here’s what you need to know

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Clover Corporation Limited. 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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