September is always a busy time of the year for ASX dividend investors as companies in the S&P/ASX All Ordinaries Index (ASX: XAO) line shareholders' pockets with the dividends declared throughout ASX reporting season.
But before these dividends can be paid, companies must first determine which investors are eligible for the payment.
To do so, they set a cut-off date, which is also known as the ex-dividend date. This is the date that a company's shares no longer trade with rights to the upcoming dividend payment.
Tomorrow, three ASX All Ords shares with sizeable dividend yields will be turning ex-dividend. Let's check them out.
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Best & Less Group Holdings Ltd (ASX: BST)
Today will be the final day to snare Best & Less' fully franked final dividend of 12 cents, which will be paid on 30 September.
The ASX All Ords share battled COVID-related store closures throughout the year, losing 11% of total trading days. The retailer estimates this led to more than $50 million of lost sales.
This saw FY22 revenue drop by 6% to $622 million but like-for-like sales were more robust, retreating just 1%.
The retailer's gross margin edged higher to 49.1%; impressive given the backdrop of rising inflation.
On the bottom line, net profit after tax (NPAT) fell by 13% to $41 million.
In its first year as a listed company, Best & Less declared total dividends of 23 cents per share, fully franked.
Based on current prices, this puts Best & Less shares on an eye-catching trailing dividend yield of 9.4%. With the benefit of franking credits, this yield grosses up to 13.5%.
The final dividend alone prints out a dividend yield of 4.9%. So don't be surprised to see Best & Less shares in the red tomorrow when they no longer trade with entitlements to this dividend.
Spark New Zealand Ltd (ASX: SPK)
Spark shares will be trading tomorrow without an unfranked final ordinary dividend of 12.5 NZ cents.
As part of a Kiwi tax regime, the company will also be paying a supplementary dividend of roughly 2.2 NZ cents to shareholders who aren't New Zealand residents.
Spark returned to growth in FY22 with revenue climbing 4% to NZ$3.7 billion and NPAT lifting 8% to NZ$427 million.
The company is currently in the midst of transitioning from its telco roots to a more diversified, higher-growth digital services provider.
It recently announced plans to sell a 70% stake in its TowerCo business for around NZ$900 million. If the deal goes through, the company expects to return up to NZ$350 million to shareholders through an on-market share buyback.
Since FY16, Spark has held its annual dividends steady at 25 NZ cents. But this is set to change next year, with management guiding for FY23 dividends of 27 NZ cents.
This represents a prospective forward dividend yield of 5.0% before the addition of any supplementary dividends.
Spark shares will soon be joining the ASX 200 ranks in the upcoming September rebalance.
Auswide Bank Ltd (ASX: ABA)
As of tomorrow, Auswide shares will no longer be trading with a fully franked final dividend of 21 cents per share.
If you own Auswide shares when the market closes today, keep your eyes peeled for the payment to come through on 30 September.
Alternatively, you could forgo this cash payment and instead participate in the company's dividend reinvestment plan (DRP). A 5% discount is on offer and you'll have until 15 September to opt in.
Positive momentum continued for this ASX All Ords share in FY22. The bank's loan book grew 7% to $3.9 billion while its net interest revenue climbed 5% to $82 million.
Auswide's net interest margin (NIM) retreated six basis points to 1.94%. In comparison, Commonwealth Bank of Australia (ASX: CBA) reported group NIM of 1.90% in FY22.
On the bottom line, Auswide's NPAT grew 8% over the prior year, driven by home loan growth and margin management.
Across the financial year, Auswide raised its total dividends by 5% to 42 cents per share, fully franked. This puts Auswide shares on a trailing dividend of 6.9%, which dials up to 9.8% including franking credits.
