Hoping to bag the boosted CBA dividend? Read this

It won't be long until CBA pays its next dividend.

| More on:
A smiling woman with a handful of $100 notes, indicating strong dividend payments

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

If you're wanting to snare the next Commonwealth Bank of Australia (ASX: CBA) dividend, you will have to get a move on.

That's because it won't be long until Australia's largest bank's shares go ex-dividend.

That's the day that the rights to the CBA dividend are settled and even if you buy shares first thing in the morning, you won't be entitled to receive the payout. Instead, it will stay with the seller of the shares, even though they no longer own them.

In order to qualify for the dividend payment, you will need to ensure that you are on the CBA share register at the close of play the day before the ex-dividend date.

Everything you need to know about the CBA dividend

Last week, CBA released its FY 2023 results and reported a 13% increase in operating income to $27,237 million and a 6% lift in cash net profit after tax to $10,164 million.

This allowed the CBA board to declare a fully franked final dividend of $2.40 per share, which took its full-year dividend to $4.50 in FY 2023. This represents a 16.9% year-on-year increase over what it paid to shareholders back in FY 2022.

As mentioned above, you don't have long to go if you want to be paid this dividend. CBA's shares will trade ex-dividend for this final dividend on Wednesday 16 August. This means that (if you don't already own them) you have today and tomorrow to buy the bank's shares if you want to receive this dividend next month.

The bank has pencilled in a payment date of 28 September for the $2.40 per share dividend, which equates to a 2.3% fully franked yield based on the current CBA share price.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Australian dollar notes in the pocket of a man's jeans, symbolising dividends.
Dividend Investing

Buy these top ASX dividend shares for market-beating 5% to 6% yields

These shares are being tipped as buys by analysts for income investors.

Read more »

Worried ASX share investor looking at laptop screen
Dividend Investing

This ASX dividend share has a 9.5% yield. Here's why it might be a trap

Is this 9.5% yield too good to be true?

Read more »

A senior investor wearing glasses sits at his desk and works on his ASX shares portfolio on his laptop.
Dividend Investing

An ASX dividend share yielding 6% to consider buying today before it's too late

Not many shares offer this kind of yield right now...

Read more »

A senior investor wearing glasses sits at his desk and works on his ASX shares portfolio on his laptop2
Dividend Investing

Why I think these 2 ASX dividend shares offer great buying right now

These two stocks could be two of the best dividend stocks to buy today…

Read more »

Contented looking man leans back in his chair at his desk and smiles.
Dividend Investing

Buy BHP and this ASX dividend stock in July

Let's see why analysts are bullish on these income options.

Read more »

Happy young couple saving money in piggy bank.
Dividend Investing

I'd buy 5,264 shares of this ASX 200 stock to aim for $250 a month of passive income

This business is a great candidate for large and growing income.

Read more »

woman talking on the phone and giving financial advice whilst analysing the stock market on the computer with a pen
Dividend Investing

2 ASX shares that I think are top buys for both growth and dividends

These stocks could provide everything I’m looking for.

Read more »

Male hands holding Australian dollar banknotes, symbolising dividends.
Dividend Investing

Buy Telstra and this ASX dividend stock for 4% to 7% yields

The telco giant and this stock are expected to offer big yields.

Read more »