The New Hope Corporation Limited (ASX: NHC) share price is deep in the red on Thursday as it trades ex-dividend.
At the time of writing, the coal miner's shares are swapping hands down 7.24% to $3.46.
Below we take a closer look at New Hope's latest dividend and when shareholders can expect payment.
Shareholders set eyes on New Hope interim dividend
Following the company's half year results, investors are eyeing New Hope shares as they go ex-dividend today.
Typically, one business day before the record date, the ex-dividend date is when investors must have purchased shares. If the investor does not buy New Hope shares before this date, the dividend will go to the seller.
Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company's shares after securing the dividend.
When can shareholders expect to be paid?
For those eligible for New Hope's interim dividend, shareholders will receive a payment of 30 cents per share on 4 May. The dividend is fully franked which means investors will receive credits put on their next tax bill.
The latest interim dividend comprises a 17 cents interim dividend as well as a 13-cent special dividend.
New Hope noted that it is experiencing significant cash build as a result of the remarkable recovery in coal prices. With the near-term outlook strong coupled with a generous franking account balance, the company decided to reward shareholders.
New Hope share price summary
Since the beginning of 2022, New Hope shares are almost 70% in the green.
New Hope shares reached a 52-week high of $4.06 this week, before taking a slight breather in the days following.
Based on today's price, New Hope commands a market capitalisation of roughly $3.10 billion and has a trailing dividend yield of 2.95%.
