It's been a brutal day for ASX shares and the S&P/ASX 200 Index (ASX: XJO) so far this Monday. At the time of writing, the ASX 200 has lost a nasty 1.9% and is back to around 6,970 points. It's a similar story for the Northern Star Resources Ltd (ASX: NST) share price.
Northern Star shares have not escaped the bad mood of the markets today. The gold miner is presently down by 2.1% at $7.42 a share, underperforming the broader market.
This move comes after the ASX gold share reported its full-year earnings for the 2022 financial year this morning.
As we covered at the time, this saw Northern Star report a 35% lift in revenues to $3.735 billion. Underlying earnings before interest, tax, depreciation and amortisation (EBITDA) also rose, by 31% to $1.517 billion. But underlying net profit after tax (NPAT) dropped 27% to $273 million.
The company also announced an on-market share buyback program worth up to $300 million.
Everything you need to know about Northern Star's dividend
But let's talk about Northern Star's dividend announcement. The gold miner declared a final dividend of 11.5 cents per share, fully franked.
This is a 15% improvement on the interim dividend of 10 cents per share the gold miner paid out back in March. It's also a big increase over FY2021's final dividend of 9.5 cents per share.
It brings Northern Star's total dividend payments for FY22 to 21.5 cents per share, again an improvement on the 19 cents per share of FY21.
NorthernStar shares will trade ex-dividend for this payment on 6 September, which means investors have until that date to buy Northern Star shares if they want to receive this dividend. It will then be paid out on 29 September.
Northern Star is running a dividend reinvestment plan (DRP), so investors also have the option of receiving additional shares instead of a cash payment if they so choose.
As it stands today, Northern Star shares have a dividend yield of 2.61%.
