The day has finally come where Commonwealth Bank of Australia (ASX: CBA) shareholders will become a little richer.
After the bank's shares tumbled nearly 5% in the past month, the company is paying out its latest dividend.
At the time of writing, the CBA share price is 1.09% higher to $93.55.
For context, the S&P/ASX 200 Index (ASX: XJO) is also rising by 1.88% following strong gains on Wall Street overnight.
Let's take a look below at the details regarding the company's dividend.
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What are the details of the CBA dividend?
During mid-August, CBA reported growth across key metrics in its full-year results of the 2022 financial year.
In summary, revenue improved by 3% to $25,143 million over the prior corresponding period. The robust performance was underpinned by an increase in lending and deposits in both home and business portfolios.
This led to the bank achieving an 11% boost in cash earnings to $9,595 million.
Subsequently, the board elected to increase its final dividend by 5% to $2.10 per share. This brings the full-year dividend to $3.85 per share, up from the $3.50 declared in FY 2021.
The dividend is fully franked which means those who receive it, will get some form of tax credits.
Based on today's price, CBA has a dividend yield of 4.11% which is slightly lower than the rest of the big four.
CBA share price snapshot
Over the past 12 months, the CBA share price has moved in circles to register a loss of around 9%.
Its shares hit a 52-week low of $86.98 on 17 June before climbing on in the following months.
CBA has a price-to-earnings (P/E) ratio of 17.28 and commands a market capitalisation of approximately $158.99 billion.
