The Macquarie dividend is being divvied out today. Here’s the lowdown

The Macquarie Group Ltd (ASX: MQG) share price is doing rather well so far this Tuesday. At the time of writing, Macquarie shares have gained a healthy 1.61%, putting this ASX 200 bank up to $174.26 a share.

That’s even better than the S&P/ASX 200 Index (ASX: XJO), which has presently gained a milder 0.6% up to 7,224 points.

But that’s not the only piece of good news for Macquarie investors today. This Tuesday is also dividend payday for investors.

Macquarie’s interim dividend inbound

Yes, Macquarie is scheduled to fork out its interim dividend today. This payment covers the half-year ending 30 September 2022.

So investors are in line to receive a payment of $3 per share. This will be partially franked at 40%.

It isn’t quite as high as the previous final dividend of $3.50 per share that Macquarie paid out back in July. However, it’s a 10% hike over last year’s interim dividend of $2.72.

Any investor who owned Macquarie shares before the ex-dividend date of 8 November will be eligible to see this payment hit their bank accounts today. The dividend will be paid out in cash, unless an investor has opted to participate in the optional dividend reinvestment plan (DRP).

If they have done so, those investors will instead receive new Macquarie shares in lieu of cash. The reinvestment share price for the DRP has been set at $178.80.

So this latest dividend brings Macquarie’s total shareholder payouts over the past 12 months to $6.50 per share. At the current Macquarie share price of $173.37, this would give investors a trailing dividend yield of 3.75%.

Macquarie shares remain down by a nasty 18% this year to date. Over the past 12 months, the Macquarie share price has lost 14% of its value.

The post The Macquarie dividend is being divvied out today. Here’s the lowdown appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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. 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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