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The final Hub24 (ASX:HUB) dividend is being paid today. Here’s what you should know

Own Hub24 shares? It’s payday today…
The post The final Hub24 (ASX:HUB) dividend is being paid today. Here’s what you should know appeared first on The Motley Fool Australia. –

Fresh off of yesterday’s red hot gains, the Hub24 Ltd (ASX: HUB) share price is once again on fire this Friday. Hub24 shares are, at the time of writing, up a very pleasing 5.54% to $32.98 a share. That’s directly on top of the 8.77% gain this company saw yesterday.

It looks like Hub24 is going to cap off one of its best weeks in a long time. Since Monday, the company is now up more than 20%.

This all stems, of course, from Hub24’s first-quarter update that the company released yesterday. Investors were evidently excited by what Hub24 had to say. The company reported net inflows of $3 billion for the 3 months ending 30 September.

That boosted its overall funds under administration to $63.2 billion, an impressive increase of 229.1% over the prior corresponding period. Further, the company also crowed over pipping Netwealth Group Ltd (ASX: NWL) for the top spot for net inflows for the quarter. 

Hub24 shares pay out

But today, Hub24 shareholders have something else to look forward to. The wealth management company is set to pay out its final dividend for FY2021. Shareholders can look forward to seeing a payment of 5.5 cents per share, fully franked, hit their bank accounts sometime today. Well, shareholders who held Hub24 shares prior to the 13 September ex-dividend date, that is.

This final dividend represents some significant dividend growth for Hub24. Its last dividend, an interim FY21 payment, came in at 4.5 cents per share. Its previous final dividend for FY20 was 3.5 cents per share, meaning that today’s payment represents a dividend growth rate of 57% over last year’s final payout.

At Hub24’s current share price, this dividend puts Hub24’s annual yield at 0.3%. While that might sound too impressive, remember this. For a shareholder that purchased Hub24 shares exactly a year ago, Hub24’s last two dividend payments would give that investor a yield-on-cost of 0.46%.

At the latest Hub24 share price of $32.98, this company has a market capitalisation of $2.26 billion, and a price-to-earnings (P/E) ratio of 256.8.

The post The final Hub24 (ASX:HUB) dividend is being paid today. Here’s what you should know appeared first on The Motley Fool Australia.

Should you invest $1,000 in Hub24 right now?

Before you consider Hub24, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Hub24 wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

Why ARB, Flight Centre, HUB24, and Qantas shares are rising today

5 things to watch on the ASX 200 on Friday

Why the HUB24 (ASX:HUB) share price jumped 11% to a record high today

Why A2 Milk, HUB24, Netwealth & Perseus shares are storming higher

ASX 200 (ASX:XJO) midday update: HUB24 & Netwealth impress, A2 Milk surges again

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Hub24 Ltd and Netwealth. The Motley Fool Australia owns shares of and has recommended Netwealth. The Motley Fool Australia has recommended Hub24 Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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