Here's everything you need to know about the latest Altium (ASX:ALU) dividend

Altium has bumped up its interim dividend.

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Key points
  • Altium reported a robust scorecard for the 2022 financial year
  • Growth across key metrics led its board to declare a interim dividend of 21 cents per share
  • Eligible shareholders can expect to receive payment on 22 March

The Altium Ltd (ASX: ALU) share price has plunged since announcing its FY22 half-year results on Monday.

The electronic design software company delivered strong earnings growth along with a bumper dividend. However, it was management's outlook on achieving the low end of its margin guidance range that spooked investors.

At yesterday's market close, Altium shares finished the day 2.77% lower to $31.54. This means that this week alone, its shares have lost around 8.7%.

Below, we look at the details regarding Altium's latest dividend.

A florist gets some good news on his laptop and tablet, a big smile on his face as he is surrounded by flowers.

Image source: Getty Images

What's the go with the Altium dividend?

In the half-year report for the 2022 financial year, Altium reported strong performance across key metrics.

In summary, revenue surged by 28% to US$102 million in H1 FY22. The company benefitted from its core board and systems business which lifted by 16% to US$79.17 million. Double-digit growth was achieved across all regions, except for China. The Europe, Middle East, and Africa segment (EMEA) rose by 25% to US$23 million.

The group also reported operating cash flow of US$33.28 million, up 33% on the prior corresponding period. 

Overall, the company finished the first half with a net cash balance of US$195 million. This represents an increase of 120% from the prior year (H1 FY21 US$88.49 million). It's also worth noting that the company remains debt free.

The board declared a fully-franked (30%) interim dividend of 21 cents per share, up 11% on the previous comparable period. The latest dividend amounts to US$19.9 million based on the total number of shares outstanding.

Altium was able to fully frank the interim dividend as a result of tax paid on the successful sale of the tasking business.

When can Altium shareholders expect payment?

Altium will pay the interim dividend to eligible shareholders on 22 March.

To be eligible for the latest dividend, you'll need to own Altium shares before the ex-dividend date of 7 March. This means if you want to secure the dividend, you will need to purchase Altium shares on or before Friday 4 March.

In case you are wondering, the company is not offering a dividend reinvestment plan (DRP) to shareholders.

Motley Fool contributor Aaron Teboneras owns Altium. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Altium. 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 Bruce Jackson.

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