If you invested in Santos Ltd (ASX: STO) for its dividend payout you'll like what the S&P/ASX 200 Index (ASX: XJO) energy stock reported today for its full 2022 financial results.
Here's why.
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Santos dividend boosted by 78%
There were a number of noteworthy highlights in the Santos full-year results.
These included a 160% year on year increase in underlying profit, which came in at US$2.5 billion.
The big profit boost and record annual revenue of US$7.8 billion was fuelled by record production of 103.2 million barrels of oil equivalent (mmboe). That's an increase of 12% from 2021 production levels.
Which brings us to the big Santos dividend.
On the back of those strong results, the board declared a final unfranked dividend of 15.1 US cents per share. That's up a whopping 78% from the final dividend in 2021.
While the dividend was declared in US currency, ASX investors will receive the payout in Aussie dollars.
At the time of writing, AU$1 is equal to 68.4 US cents, meaning the Santos dividend, if paid out today, would equate to just under 22.1 Aussie cents per share.
That may not be precisely what ASX investors receive, mind you.
Santos will determine the US dollar exchange rate for the payout on 2 March.
If you'd like to receive the boosted dividend, you'll need to own shares before Monday, 27 February. That's when the stock trades ex-dividend.
Investors can expect to be paid on 29 March.
And interested investors can participate in Santos' dividend reinvestment plan (DRP).
