Note: the KPG gross dividend presented is juiced on a 12 month calculation basis as they are moving from half year to quarterly payments, so the current calculation includes two half year dividends + upcoming quarterly dividend.
LEK noted Note: the KPG gross dividend presented is juiced on a 12 month calculation basis as they are moving from half year to quarterly payments, so the current calculation includes two half year dividends + upcoming quarterly dividend.
What is the yield if you deduct upcoming quarter dividend from last years first half dividend …ie giving a yearly dividend.
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LEK noted Note: the KPG gross dividend presented is juiced on a 12 month calculation basis as they are moving from half year to quarterly payments, so the current calculation includes two half year dividends + upcoming quarterly dividend.
What is the yield if you deduct upcoming quarter dividend from last years first half dividend …ie giving a yearly dividend.
It stays the same around 7% - the upcoming quarterly dividend is set at the current dividend rate, rather than the rate that will be declared at the next earnings in December.
Depending on how one looks at things, the upcoming dividend could be considered a one off bonus of sorts, as it effectively moves froward their whole dividend schedule going forward permanently by 3 months.
Eg, they paid their last 6 months dividend in late June, and over the next 6 months there will be 3 quarterly payments, so over the 12 months from June 1st 2022 to May 31st there will be the equivalent of 5 quarterly dividends paid - so perhaps the current 8.6% gross yield is actually valid to use for the next 9 months. The 5 quarterly payments rate wont be out of the system until we are one year past the June 2022 dividend payment.
Edit: actually it gets a bit more wonky that that. After the upcoming December 2022 quarterly dividend, the Dec 21 half year dividend falls off so we will have a “correct” dividend rate (1 half year from June 22 dividend + 2 quarterly dividends in Sep 22 & Dec 22), but then when the March quarterly dividend is paid we will be back to the equivalent of 5 x quarterly dividends in the trailing 12 months (June 22 half year + Sep, Dec & Mar quarterly’s)
Last edited by LaserEyeKiwi; 12-09-2022 at 11:11 AM.
Note: I complied the week ending Sep 9th the share prices above this morning before market open from the NZX website, and there was obviously some impact from ex-dividend pricing action before market open (KPG being at 99.6 an obvious example)
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Originally Posted by winner69
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