The New Hope Corporation Limited (ASX: NHC) share price is launching higher on Tuesday after the company revealed a monster dividend offering.
The S&P/ASX 200 Index (ASX: XJO) coal giant will hand investors a 31-cent final dividend for financial year 2022 – up a whopping 343% from last year's 7-cent final dividend.
And that's not all. It will also provide a 25-cent per share special dividend.
Together, the payouts will see those invested in New Hope shares receiving 700% more than they did at the same time last year.
Perhaps unsurprisingly, the New Hope share price is rejoicing on the news. It's currently trading at $5.78, 5.86% higher than its previous close.
Though, earlier today it hit a new 52-week high of $5.91, representing an 8% gain.
Let's take a closer look at all the details of New Hope's latest dividend offering.
All investors need to know about the New Hope dividend
Record coal sales in financial year 2022 led New Hope to declare a record dividend payout – totalling a whopping 56 cents per share.
Combined with the 30 cents the company handed investors in April – made up of a 17-cent interim dividend and a 13-cent special dividend – New Hope will have paid out 86 cents per share for financial year 2022.
That leaves it trading with a 14.87% dividend yield, placing it among the S&P/ASX 200 Index (ASX: XJO)'s highest-dividend yielding shares right now.
On top of that, both of the company's newly announced offerings will come fully franked. That means they could bring about additional benefits for some investors come tax time.
And those interested in snapping up stock in the company for its upcoming dividend have a while to do so. New Hope shares will trade ex-dividend on 24 October.
Market watchers have until then to buy into the company and still receive the payout, which will be handed out on 8 November.
