Looking to snag the latest Whitehaven Coal Ltd (ASX: WHC) dividend?
The S&P/ASX 200 Index (ASX: XJO) coal stock reported its full-year results for the financial year ending 30 June (FY23) yesterday.
If you're after the passive income from the coal miner's dividend, here's what you need to know.
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Everything you need to know about the Whitehaven dividend
Whitehaven reported some strong full-year results, including a record $6.1 billion in FY23 revenue. That's up 23.3% from the prior year.
The ASX 200 coal miner also reported an all-time high net profit of $2.67 billion, an increase of 36.7% from FY22.
And cash generated from the coal miner's operations increased from $2.6 billion in FY22 to $4.2 billion in FY23, up 62%.
As for the Whitehaven dividend, management declared a final fully franked dividend of 42 cents per share. This represents a 5% increase from the 40 cents per share in FY22.
Adding that in with the interim Whitehaven dividend of 32 cents per share and the full-year payout comes to 74 cents per share. At the current Whitehaven share price, this equates to a juicy yield (partly trailing, partly yet to be paid) of 11.3%, fully franked.
This represents a payout ratio for FY23 of 23%.
If we add in the share buy-back of some $959 million during the year, the payout ratio for FY23 comes out to 50% of net profit after tax (NPAT). That percentage is aligned with the company's capital allocation framework.
Now, if you're looking to grab the interim Whitehaven dividend (which represents a pending, fully franked yield of 6.4% all on its own), you'll need to own shares at market close next Wednesday, 30 August.
The ASX 200 coal stock trades ex-dividend on 31 August.
Eligible investors can then expect to see that passive income hit their bank accounts on 15 September.
