The Premier Investments Limited (ASX: PMV) share price is edging lower following the release of the company's FY22 half-year results today.
This comes despite the board declaring a record interim dividend after posting record sales from its Peter Alexander business.
At the time of writing, the retail conglomerate's shares are swapping hands for $28.645, down 1.02%.
It's worth noting that earlier this month, Premier shares hit a 10-month low of $25.47 before quickly rebounding higher.
Below we take a look at the company's latest financial performance and its huge interim dividend for investors.
What's the go on the Premier Investments dividend?
In the half-year report for the 2022 financial year, Premier reported a mostly sound performance across key metrics.
In summary, retail global sales lifted by 0.6% to $769.9 million driven by strong online growth. The latter achieved a 27.3% increase in sales to $195.4 million despite the long-endured lockdowns across Sydney and Melbourne.
In total, more than 42,000 trading days were lost in H1 FY21 due to government-mandated restrictions.
However, most notably, sales in Peter Alexander were up 11.4% to $227.4 million as people remained at home more often.
This led to the group registering a net profit after tax (NPAT) of $163.6 million for the six-month period ending 29 January.
While the company's bottom line reflected a decrease of 13%, the board opted to amplify the interim dividend. A fully franked dividend of 46 cents per share, which represents a 35.3% jump on the previous H1 FY21 dividend.
When can Premier shareholders expect payment?
The Premier Investments interim dividend will be paid to eligible shareholders on 27 July.
However, to be eligible, you'll need to own Premier shares before the ex-dividend date which falls on 21 June. This means if you want to secure the dividend, you will need to purchase Premier shares on Monday 20 June at the latest.
It is worth noting that on the ex-dividend day, the share price traditionally falls in proportion to the dividend amount.
