The Woodside Energy Group Ltd (ASX: WDS) share price has continued to nudge higher in recent times.
Favourable market conditions, such as increases in energy prices, led the company to report a robust H1 2022 result.
Subsequently, the board declared its biggest dividend to investors since 2014.
At US 109 cents (AU$1.60) per share, this represents a 263% increase on the prior corresponding period.
Furthermore, the last two dividends have totalled US 214 cents, which is extremely significant given the share trades around the $35 mark.
This means that the current trailing dividend yield for Woodside shares stands at an attractive 9%.
Let's look at the details you need to know about the upcoming dividend.
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Time is running out to secure the Woodside dividend
The Woodside share price could receive a short-term boost today as investors look to scoop up the company's interim dividend.
The ex-dividend date is tomorrow, Thursday 8 September.
This means you have until the end of today to buy the energy producer's shares to be eligible for the dividend – provided you keep them until Thursday morning.
Remember to note that when the ex-dividend approaches, the share price will likely fall in proportion to the dividend paid out. However, this can also fluctuate depending on how the market is performing for the day, investor sentiment, and, in Woodside's case, the price of oil.
If you manage to buy Woodside shares in time, you'll receive the dividend payment on 6 October.
Furthermore, there is a dividend reinvestment plan (DRP) should you wish to add more Woodside shares to your holdings. Although the exact price for each DRP share hasn't been released yet.
Eligible shareholders have until 12 September to elect to the DRP.
Woodside share price snapshot
Soaring energy prices have fuelled the Woodside share price to travel 60% higher in 2022, and 80% over the last 12 months.
At yesterday's market close, the energy giant's shares finished at $35.08 apiece – a gain of 13% this week.
In comparison, the S&P/ASX 200 Energy Index (ASX: XJR) is up 42% this year, but flat since this time last week.
Woodside commands a market capitalisation of approximately $66.61 billion.
