Elders shareholders will receive a much-welcomed payment on Friday.
The post Guess which ASX 200 share is paying its biggest-ever dividend today? appeared first on The Motley Fool Australia. –
Elders Ltd (ASX: ELD) shareholders will have something to cheer about today as the company pays out its latest dividend.
At Thursdayâs market close, the Elders share price finished 0.16% higher at $12.72.
Despite being in the green, it has been a tough period for Elders shares, which have fallen 5% in a week and 9% in the past month.
Letâs take a look at all the details regarding the Elders dividend.
Elders pays out record dividend
Elders delivered an outstanding performance across key metrics in its first half results for the 2022 financial year.
In summary, management reported sales revenue of $1,514.8 million which reflected a 38% increase on the prior comparable period.
Furthermore, earnings before interest and tax (EBIT) accelerated by 80% to $132.8 million
On the bottom line, this led to a net profit after tax (NPAT) of $91.2 million, up 34% on H1 FY21.
Elders noted the robust financial scorecard was underpinned predominantly by its rural products business. Demand surged for fertiliser and crop protection products on the back of favourable seasonal conditions in key cropping regions.
However, the biggest win for shareholders came in the form of the boardâs decision to ramp up the interim dividend.
For context, the first half dividend for FY22 represented a 40% jump on the 20 cents declared in H1 FY21.
Notably, this is now the highest Elders dividend ever paid to shareholders in the history of the company.
When calculating against the last closing share price, Elders is trailing on a forecast dividend yield of 3.94%.
Elders share price snapshot
Over the past 12 months, the Elders share price has risen by 8%. It is also up by 3% this year to date.
It was only in March this year that the companyâs shares accelerated following a positiveÂ trading update.
Just two months later on 23 May, Elders shares reached a decade high of $15.32.
The post Guess which ASX 200 share is paying its biggest-ever dividend today? appeared first on The Motley Fool Australia.
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Motley Fool contributor Aaron Teboneras 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 recommended Elders Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.