Hoping to bag the next dividend payment from National Australia Bank Ltd (ASX: NAB) shares?
I wouldn't blame you. Like all ASX major bank shares, NAB has a long and lucrative history as a strong ASX income payer.
Now that the COVID-induced dividend freeze is well and truly over, NAB dividends have been returning to their former glory over the past year or two. And the latest payment is coming investors' way very soon.
But if investors want to be in line to receive this next dividend, they will have to be quick. That's because NAB is scheduled to trade ex-dividend this week, tomorrow, to be exact.
When a company trades ex-dividend, it effectively means that any new investor from the ex-dividend date onwards is not eligible to receive the dividend in question. Thus, it is a line in the sand of sorts.
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NAB shares to trade ex-dividend tomorrow
So since NAB's next ex-dividend date is tomorrow, investors only have until the end of today's trading session to buy NAB shares if they wish to be on this list. Tomorrow, expect a share price drop as the value of the dividend leaves the bank's share price.
But how much will investors be in line to receive if they have, or do, make the cut-off date for NAB's next dividend?
Well, this next dividend will be NAB's final one for FY2022. It is set to be a payment worth 78 cents per share, fully franked. Its ex-dividend date is scheduled for tomorrow, 15 November, with a payment date of 14 December. That's exactly a month from today and just in time for Christmas.
This 78 cents per share payment represents a healthy increase over last year's final dividend of 67 cents per share. It's also a hike from NAB's July interim payment, which was worth 73 cents per share. So something for shareholders to look forward to.
This latest shareholder payment gives NAB a forward dividend yield of 4.85% at the current NAB share price.
