The Coles Group Limited (ASX: COL) share price is down almost 5% to $17.78 in early Wednesday trading after the supermarket and liquor group reported full-year sales up 2% to $39.4 billion and net profits after tax up 4% to $1.05 billion.
The company declared a fully-franked final dividend of 30 cents per share, taking total FY22 dividends to 63 cents per share, an increase of 3.3% compared to FY21.
The Coles final dividend will be paid to eligible shareholders on 28th September 2022. Coles shares go ex-dividend on 2nd September 2022.
Based on the Coles share price of $18, the stock trades at 23 times earnings and on a fully-franked dividend yield of 3.5%.
Looking ahead, like many retailers, Coles faces a number of challenges, including further cost price inflation, COVID-19 and flu staff absenteeism, and rising interest rates placing pressure on many households.
Coles declined to give a specific outlook, saying it will continue to focus on delivering trusted value to customers.
Over the past 12 months, Coles shares are flat, compared to a fall of 7.6% in the ASX 200 Index. By contrast, the Woolworths (ASX:WOW) share price has fallen 8% in the last year.
