Shares in Cochlear Ltd (ASX: COH) have backtracked since the release of the company's full-year results last month.
On the operational side, the company reported a solid performance as it continues its recovery from COVID-19.
Cochlear implant units grew 5% across the board – around 10% above pre-pandemic levels. Western Europe was the best performing region.
As for financials, the hearing solutions company achieved sales revenue of $1,641 million, up 9% in constant currency.
The bottom line rose by 18% to $277 million with key drivers being strong sales revenue and continued investment in market growth activities.
This led the board to ramp up its final dividend.
Investors were quick to react to the results, sending the Cochlear share price 2.18% higher to $218.86 on the day.
Despite climbing again the following day, the share has fallen wayside ever since due to market volatility and inflationary pressures.
At the time of writing, Cochlear shares are trading at $208.85 – down 0.96% so far today.
Let's take a look at the details that you need to know about the upcoming dividend.
Almost out of time to secure the Cochlear dividend
The Cochlear share price is edging lower today despite investors looking to scoop up the company's final dividend.
In case you weren't aware, the ex-dividend date is tomorrow, Wednesday 21 September.
This means you have until today to buy Cochlear shares to be eligible for the dividend – provided you keep them until tomorrow morning.
Keep in mind that when a company's shares trade ex-dividend, the share price tends to fall in proportion to the dividend paid out. However, this can vary depending on how the market is tracking for the day as well as investor sentiment.
If you make the cut, you'll receive a partially franked dividend payment of $1.45 per share on 17 October.
This brings the total dividend for FY 2022 to $3 per share, reflecting an 18% increase from the $2.55 per share declared in the prior corresponding year.
If you are looking to add more shares to your holdings, Cochlear is not currently offering a dividend reinvestment plan (DRP).
Cochlear share price snapshot
The Cochlear share price has fallen 2% this year and is down 10% over the last 12 months.
This is a better performance than the S&P/ASX 200 Health Care (ASX: XHJ) sector. It's down 9% in 2022 and 13% since September 2021.
Cochlear commands a market capitalisation of approximately $13.87 billion and has a dividend yield of 1.38%.
