Shares in Wesfarmers Ltd (ASX: WES) have remained steady since the company reported its full-year results on 26 August.
Despite delivering a mixed financial scorecard, the Wesfarmers share price shrugged off the negative sentiment on the ASX that day.
This is because the conglomerate's earnings beat the consensus estimate among a number of brokers.
At the time of writing, the conglomerate's shares are 0.72% higher to $47.74 apiece for the day.
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Wesfarmers shares gear up to trade ex-dividend
As the market reels from its heavy losses, investors are sending the Wesfarmers share price into positive territory.
It appears that investors are eager to quickly secure the Wesfarmers dividend as the ex-dividend date fast approaches.
In case you weren't aware, you'll have till the end of the day to buy the company's shares and lock in the dividend.
Although, you can expect the share price to fall tomorrow as when a company reaches its ex-dividend day, investors tend to offload their holdings for a quick profit.
When is payday for Wesfarmers shareholders?
For those who lock in the upcoming Wesfarmers dividend, you'll receive a payment of $1 per share on 6 October.
The dividend is fully franked and is 11.1% higher than the previous corresponding period (90 cents per share).
This brings the total FY 2022 dividend to $1.80 per share, representing a slight increase on last year's total $1.78 per share dividend.
Wesfarmers acknowledged that a key component of total shareholder return is the dividends paid to shareholders. After all, investors are highly drawn to quality blue-chip shares that pay dividends.
Wesfarmers' dividend distributions are based on franking credit availability, current earnings, cash flows, future cash flow requirements and targeted credit metrics.
In that respect, management said that the final dividend reflects a strong second-half net profit after tax result.
It is also the highest final dividend to be paid since September 2018.
Furthermore, shareholders can elect for the dividend reinvestment plan (DRP) which will add a portion of shares to their portfolio instead.
There is no DRP discount rate and the last election date for shareholders to opt in is on 2 September.
Wesfarmers share price snapshot
In 2022, the Wesfarmers share price has fallen 20% on the back of tough macroenvironmental conditions in recent months.
The company's shares reached a year-to-date low of $40.03 on 17 June, before treading higher in the following weeks.
Wesfarmers commands a market capitalisation of roughly $53.74 billion and has a dividend yield of 3.55%.
