The Transurban Group (ASX: TCL) share price edged lower on Tuesday despite the release of an update on its next distribution this afternoon.
The toll road giant's shares finished the day down 0.15% to $13.74.
What distribution will Transurban pay?
Transurban announced that its final distribution for the six months ending June 30 2019 will be a total of 30 cents per stapled security, up from 28 cents per stapled security in the prior corresponding period.
This comprises a 28 cents per stapled security distribution from Transurban Holding Trust and controlled entities and a 2 cent per stapled security fully franked dividend from Transurban Holdings Limited and controlled entities.
This bring the company's total distribution for FY 2019 to 59 per stapled security, of which 3 cents will be fully franked, and based on Tuesday's close price, this works out to be a partially franked 4.3% yield.
The toll road company will once again operate its dividend reinvestment plan (DRP) for shareholders. However, the release explains that no discount will be applied when determining the price at which stapled securities will be issued under the DRP.
According to the release, the Transurban board has decided that the DRP pricing period for this distribution will be the 10 days commencing July 4 2019.
When do you need to buy shares to qualify?
The company's shares will trade ex-dividend on June 27 2019, which means investors will need to be on the Transurban share registry by the close of play on June 26 in order to qualify for it.
After which, they can look forward to being paid this distribution in a little over two and a half months on August 9.
Other shares that will be trading ex-dividend in the near future include Fortescue Metals Group Limited (ASX: FMG) on May 22 and retail conglomerate Premier Investments Limited (ASX: PMV) on May 30.
