Atop gaining 7.9% over the past 12 months, South32 Limited (ASX: S32) shares have also delivered some market-beating passive income.
On the share price front, the S&P/ASX 200 Index (ASX: XJO) diversified mining stock closed on Friday trading for $3.83, up from $3.54 a year ago.
At current prices, the miner has a market cap just shy of $17.4 billion. The stock trades on a price-to-earnings (P/E) ratio of 5.2 times.
Now, here's how much passive income you'll already have banked if you bought $5,000 worth of South32 shares last July.
What kind of passive income do South32 shares pay?
Before we dive into the maths, please take note that we're discussing trailing yields based on the dividends paid out over the past 12 months.
The passive income South32 shares deliver in future years may be higher or lower, depending on a range of company-specific and macroeconomic factors.
With that said, on 22 July 2022, you could have snapped up stock in South32 for $3.51 a share. A $5,000 investment, then, would have garnered you 1,424 shares, with a bit of pocket change left over.
If you held onto the stock, you'd have been eligible for the all-time high final dividend of 25.1 cents per share, 100% franked. That payout would have hit your bank account on 13 October.
South32 also delivered a fully franked interim dividend of 7.3 cents per share. This was paid on 6 April.
Adding that up, South32 paid out 32.4 cents per share in dividends over the financial year just past.
Meaning a $5,000 investment in the stock last July will already have seen you bank $461.38 in passive income, with some potential tax benefits from those franking credits.
And that's not including the $455.84 in gains from the share price growth.
