What is the current dividend yield for Accent shares?

What kinds of dividends is Accent Group paying these days?

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Key points

  • Accent shares have had a very tough year in 2022 thus far 
  • The footwear retailer is down close to 50% year to date 
  • But today, let's check out what Accent has in its locker when it comes to dividends... 

In defiance of the S&P/ASX 200 Index (ASX: XJO) today, the Accent Group Ltd (ASX: AX1) share price is actually in the green. So far this Thursday, Accent shares have gained a healthy 0.8% at $1.25 a share. This stands in stark contrast to the ASX 200, which has lost another 0.74% at the time of writing. 

But zooming out, it seems the ASX 200 gets the last laugh. 2022 has been a particularly brutal year for Accent shares. The footwear company is now down by almost 49% year to date. By comparison, the ASX 200 has only lost around 12.4% since the start of the year.

But what of Accent’s dividends? Have investors at least been comforted by some dividend income during these nasty falls?

What kind of dividend yield are Accent shares offering today?

Well, Accent is indeed a dividend-paying share. The company has even delivered an annual dividend increase every year since 2014. Saying that, this streak looks to be on shaky ground in 2022. Accent’s last interim dividend, which was paid out back in March, came in at 2.5 cents per share. That’s a big drop from 2021’s interim dividend of 8 cents per share.

In order for Accent to match the 2021 dividend total of 11.3 cents per share, it will need to pay a final dividend of 8.8 cents per share. That would be a big jump over 2021’s final dividend of 3.25 cents per share.

So with that in mind, what might the current yield on Accent shares be? Well, the company’s past two dividends add up to 5.75 cents per share. On the current Accent share price of $1.25, that gets us to a trailing dividend yield of 4.6%. Given Accent’s dividends typically come with full franking credits, that yield grosses up to 6.57%. 

But it could get even better for income investors going forward. As my Fool colleague James discussed earlier this month, ASX broker Bell Potter is estimating Accent will be able to pay a total of 10.7 cents per share in dividends over FY2023. If that turns out to be accurate, it would mean Accent shares have an FY2023 forward dividend yield of over 8.5% today.

But we shall have to wait and see what happens.

At the current Accent share price, this ASX 200 retailer has a market capitalisation of $678.4 million.

 

 

Motley Fool contributor Sebastian Bowen 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 recommended Accent Group. 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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