Payday time has come for Soul Patts shareholders.
The post The Soul Patts dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia. –
Washington H Soul Pattinson & Co Ltd (ASX: SOL) shareholders will have something to cheer about today as the company pays out its latest dividend.
At Wednesday’s market close, the Soul Patts share price finished 3.27% lower to $26.34.
For context, the S&P/ASX 200 Index (ASX: XJO) also headed south yesterday with a 1.75% loss to 6,941 points.
Let’s take a look at all the details regarding the Soul Patts dividend.
Soul Patts pays out interim dividend
Soul Patts delivered a solid performance for its first-half results for the 2022 financial year in March.
In summary, Soul Patts reported strong numbers despite its statutory net profit after tax (NPAT) recording a loss of $643 million.
Major contributors to the top line result were New Hope Corporation Limited (ASX: NHC), Brickworks Limited (ASX: BKW), and Round Oak Metals as well as higher dividends from the large-cap equities portfolio. The latter increased by roughly $2.7 billion due to the Milton acquisition which was completed on 5 October 2021.
The biggest win for shareholders came from the board’s decision to increase the interim dividend by 11.5% over H1 FY21.
Net cash flow from investments stood at $182.6 million, up 114% on the prior corresponding period which supported the higher dividend.
Notably, this reflected one of the highest first-half dividends in the history of Soul Patts.
When calculating against the current share price, the company is trailing on a forecast dividend yield of 2.35%.
Soul Patts share price snapshot
This year to date, the Soul Patts share price has fallen 11% on the back of weakened investor sentiment. It is also down around 10% over the past 12 months.
A series of market shocks such as the Omicron lockdown, the war in Ukraine, and steep inflationary movements haven’t helped the company.
Nonetheless, the group previously noted it has ample firepower on its balance sheet to purchase attractive investments during market downturns.
The post The Soul Patts dividend is being paid today. Here’s what you need to know appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for over ten years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of January 12th 2022
5 things to watch on the ASX 200 on Friday
Why did the South32 share price beat the other ASX 200 miners today?
2 ASX 200 shares clocking multi-year highs on Thursday
Here are the 3 most heavily traded ASX 200 shares on Thursday
Blockdown! Why is the Block share price crashing by 16% today?
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 positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Brickworks and Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.