The Accent Group Ltd (ASX: AX1) share price rocketed on Wednesday.
While the company posted a disappointing first-half result, investors appeared to be confident that its performance will improve.
The footwear retailer's shares surged to an intraday high of $2.115 before settling back to $2.07, up 7.81% at market close.
Interestingly, Accent shares hit a 52-week low of $1.855 when trading opened up yesterday. If you were brave enough to pick up its shares during this time, you'd be sitting on an 11.6% gain.
Below we take a look at the company's latest financial performance and its interim dividend for investors.
H1 FY22 performance drags the Accent dividend lower
In the half-year report for the 2022 financial year, Accent reported double-digit losses across key metrics, except total sales figures.
In summary, sales increased by 9.7% to $594 million over the previous corresponding period. This was predominately underpinned by wholesale sales, up 47.7% to $81.9 million.
The group expects core brands and new distribution agreements including Reebok and Hoka One One to further drive wholesale sales.
Despite the above result, net profit after tax (NPAT) plunged 72% to $14.8 million, impacted by the continuing COVID-related disruptions.
Based on Accent's performance, the board declared a fully franked interim dividend of 2.5 cents per share. This represents a 69% decline from the 8 cents declared in the prior comparable period.
When can Accent shareholders expect payment?
Accent will pay the interim dividend to eligible shareholders next month on 17 March.
However, to be eligible you'll need to own Accent shares before the ex-dividend date which falls on Wednesday 9 March. This means if you want to secure the dividend, you will need to purchase Accent shares by Tuesday 8 March at the latest.
It is worth noting that on the ex-dividend day, the share price traditionally falls in proportion to the dividend amount.
