What is the current dividend yield on Bendigo Bank shares?

The bank’s stock is currently trading with a very healthy yield.

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Key points

  • The Bendigo Bank share price has been performing well in 2022, outperforming the ASX 200 by nearly 17%
  • But that hasn't dinted the bank's dividend yield. At the time of writing, it's trading with a yield of 5.14%
  • That takes into account the 53 cents per share of dividends Bendigo Bank has handed out over the last 12 months

The Bendigo and Adelaide Bank Ltd (ASX: BEN) share price has been outperforming in 2022. And that has, in turn, impacted the company’s dividend yield.

While the S&P/ASX 200 Index (ASX: XJO) has slipped 6% this year so far, stock in the Australian retail bank has gained almost 11%.

At the time of writing, the Bendigo Bank share price is $10.31, flat to its previous close.

For context, the ASX 200 is currently up 1.15% on Friday.

So where does that leave the bank’s dividend yield? Let’s take a look.

What’s Bendigo Bank’s current dividend yield?

Have you owned Bendigo Bank shares over the last 12 months? You’ve probably received 53 cents per share in dividends.

At the end of financial year 2021, the retail bank handed out a 26.5-cent final dividend. It then offered shareholders another 26.5 cents per share interim payout for the half-year ended 31 December 2021.

That means, at its current share price, Bendigo Bank’s stock is trading with a 5.14% dividend yield. That’s certainly nothing to scoff at.

It’s also worth noting that Bendigo Bank’s dividends have historically been fully franked at 30%. Thus, some investors might find further value in the company’s payouts at tax time.

Additionally, investors more focused on the value of their holding than extra pocket money can take advantage of the bank’s dividend reinvestment plan (DRP).

That will see them receiving their payouts in the form of new shares, bypassing broker fees, and often obtaining a slight discount to the market price. In fact, Bendigo Bank has recently provided a 1.5% discount to those utilising its DRP.

The next time the market is expecting to hear dividend-related news from the bank is in mid-August. That’s when Bendigo Bank is aiming to drop its results for financial year 2022.

No doubt all eyes will be on it, its share price, and its dividend yield then.

Motley Fool contributor Brooke Cooper 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 positions in and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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