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Why is the Fisher & Paykel share price heading south today?

The company’s shares are trading ex-dividend on Wednesday.
The post Why is the Fisher & Paykel share price heading south today? appeared first on The Motley Fool Australia. –

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is sliding in early trade today.

At the time of writing, the medical device company’s shares are down 1.64% to $17.43.

On the other hand, the S&P/ASX 200 Index (ASX: XJO) is edging higher. The benchmark ASX 200 Index is currently up 0.13% to 6,532 points.

Let’s check what’s going on with the New Zealand-based company.

Shareholders secure the Fisher & Paykel Healthcare final dividend

With the company’s full-year earning seasons wrapped up, Fisher & Paykel Healthcare shares are trading ex-dividend today.

This comes after the company released its FY22 results on 25 May, reporting mixed numbers across key financial metrics.

Nonetheless, the board opted to slightly increase its final dividend by 2% over the prior corresponding period.

This brings the company’s full-year dividend to 39.5 cents, an improvement of 4% from FY21.

Typically, one business day before the record date, the ex-dividend date, is when investors must have purchased shares. If the investor didn’t buy Fisher & Paykel Healthcare shares before this date, the dividend will go to the seller.

When can shareholders expect to be paid?

For those eligible for Fisher & Paykel Healthcare’s final dividend, shareholders will receive a payment of NZ$0.22.5 cents (A$0.2046) per share on 6 July. The dividend is unfranked which means investors won’t get any tax credits from this.

Under the company’s capital management framework, management’s priority is to appropriately invest in the business to support long-term sustainable growth.

The company has a “target debt to debt plus equity ratio in the range of +5% to -5%”. This also takes into account future business performance and cash requirements to run its operations.

In addition, Fisher & Paykel Healthcare has a trailing dividend yield of 2.2%.

Fisher & Paykel Healthcare share price snapshot

Since the beginning of 2022, the Fisher & Paykel Healthcare share price has tumbled more than 40%.

Notably, the company’s shares reached a 52-week low of $17.14 last week on the back of weakened sentiment.

Based on today’s price, Fisher & Paykel Healthcare presides a market capitalisation of approximately $10 billion.

The post Why is the Fisher & Paykel share price heading south today? appeared first on The Motley Fool Australia.

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More reading

5 things to watch on the ASX 200 on Wednesday
How does the Macquarie dividend stack up against the ASX big four banks?
Here are the 3 most heavily traded ASX 200 shares on Tuesday
How to start investing in stocks: This ASX 200 share is where I’d begin
The ANZ share price has tumbled 24% from its 2022 high. Is it time to pounce?

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 no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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