Everything you need to know about the super-sized Macquarie dividend

The Macquarie Group Ltd (ASX: MQG) share price is rocketing 3% after the S&P/ASX 200 Index (ASX: XJO) giant revealed a record interim dividend.

The financial services provider announced a $3 per share first half dividend alongside its earnings for the six months ended 30 September this morning.

The Macquarie share price is launching higher on the back of the release, gaining 2.98% to trade at $171.51.

Let’s take a closer look at the payout Macquarie investors can expect to receive in coming weeks.

All you need to know about Macquarie’s monster dividend

Invested in Macquarie shares? You’ll be glad to learn of the S&P/ASX 200 Financials Index (ASX: XFJ)’s giants latest interim dividend – 10% higher than that of the prior corresponding period (pcp).

The $3 per share dividend also represents its largest half-year offering ever.

Like that of the pcp, the upcoming interim dividend is 40% franked and represents a 50% payout ratio.

The financials favourite posted $8.6 billion of net operating income for the first half of financial year 2023.

Macquarie’s latest payout sees it trading with an approximate 3.79% trailing dividend yield. That’s considering its share price at the time of writing and its previous $3.50 final dividend.

Anyone wanting to get in on the company’s upcoming payout has a little over a week to do so.

It will trade ex-dividend on 7 November. That means investors buying the stock from then on will miss out on the offering. After that, shareholders can expect to receive their dividends from 13 December.

Macquarie will also be offering its dividend reinvestment plan (DRP) for the interim dividend. Participating shareholders will receive their payout in the form of new shares, rather than cash.

The post Everything you need to know about the super-sized Macquarie dividend appeared first on The Motley Fool Australia.

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• Why is the Macquarie share price charging 4% higher today?
• Macquarie share price on watch after first-half earnings beat
• 5 things to watch on the ASX 200 on Friday
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• Is the Macquarie share price a buy ahead of the bank’s results on Friday?

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 recommended Macquarie Group 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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