The Accent (ASX:AX1) dividend has lifted by 22%

The company will reward shareholders with an increased dividend…

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The Accent Group Ltd (ASX: AX1) dividend received a nice boost following the company’s FY21 full-year results yesterday.

No doubt, investors will be licking their lips when the footwear retailer pays the final dividend next month.

Below we take a look at Accent’s FY21 scorecard and its dividend.

How did Accent perform in FY21?

The footwear retailer delivered outstanding growth for the 12 months ending 27 June 2021.

The group recorded total sales of $1.14 billion, up 19.9% over the prior corresponding period. Sales momentum continued throughout the year, with strong demand via its digital segment. Online sales soared by 48.5% to $209.9 million, accounting for 21% of Accent’s total retail sales.

In addition, earnings before interest and tax (EBIT) improved to $242 million, up 19.3%. while net profit after tax (NPAT) surged to $76.9 million, up 38.6%.

In light of the robust performance, the Accent board decided to bump up its fully-franked full-year dividend to 11.25 cents per share. This makes up a final dividend of 3.25 cents and the interim dividend of 8 cents declared in February 2021.

Based on the current Accent share price of $2.26 apiece, this gives the company a trailing dividend yield of just over 4.9%.

Accent chair David Gordon highlighted the company’s achievement, saying:

The Accent team has delivered another excellent year. Consistent with our policy, no JobKeeper funds have been used in the calculation or payment of management bonuses or shareholder dividends.

… It is a testimony to that effort that we have achieved another record profit and record dividend this year.

Accent dividend key dates

Accent released the distribution amount and payment dates of its final dividend for the 2021 financial year yesterday. Here’s a summary of the important dates Accent shareholders will need to know.

Ex-dividend date

The ex-dividend date will be 8 September 2021.

Typically, one day before the record date, the ex-dividend date is when investors must have purchased Accent shares. If the investor does not buy Accent shares before this date, the dividend will go to the seller.

Record date

The record date for Accent’s final dividend is 9 September 2021.

Essentially acting as the cut-off date, this is the date where the company identifies which investors are on its register. Those who are on Accent’s books will be eligible to receive its upcoming dividend.

Payment date

The payment date for Accent’s dividend will be 16 September 2021.

This is when investors can expect to see the final dividend of 3.25 cents per share land in their accounts.

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 Accent Group. 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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