The Woolworths Group Ltd (ASX: WOW) share price is backtracking today following the release of the company's full-year results.
The retail conglomerate reported a resilient financial performance despite an extremely challenging operating environment.
Nonetheless, the group achieved a 9.2% increase on total sales to $60,849 million. This was driven by an improved trading momentum in the second half as the business recovered from supply chain disruption and product availability challenges.
On the bottom line, Woolworths delivered a 0.7% increase in net profit after tax (NPAT) to $1,514 million.
This led the board to declare a fully franked final dividend of 53 cents per share.
While this is a very brief summary of the results, read below if you'd like to know more regarding the latest dividend.
Woolworths share price dips following dividend cut
A catalyst for the Woolworths share price sinking 3.85% to $35.96 on Thursday could be the board's decision to slash its final dividend.
For the second half of FY2021, the company paid out a final dividend of 55 cents per share.
However, the FY2022 final dividend represents a cut of 3.6% over the prior corresponding period.
This brings the total dividends declared for the 2022 financial year to 92 cents per share.
The ex-dividend date for the final dividend is on 31 August 2022, meaning you have until next Tuesday to buy Woolworths shares.
If you manage to add them to your holding in time, you'll receive a dividend payment on 27 September.
In addition, you may wish to opt-in to the company's dividend reinvestment plan (DRP).
The last date to participate in the DRP is on Friday 2 September.
There's no DRP discount, and the reinvestment price will be decided upon the volume weighted average price (VWAP) between 5 September to 9 September.
The shares will be also issued on 27 September.
Based on today's price, Woolworths commands a market capitalisation of $45.40 billion and has a dividend yield of 2.48%.
