Do you own Suncorp Group Ltd (ASX: SUN) shares? Well, there's some good news awaiting you today.
Not that we would know it from the Suncorp share price. Shares of this ASX 200 financial company have been hit hard today. As it presently stands, Suncorp has lost a nasty 1.91% so far this session, putting the company's share price at $10.28.
But at least shareholders have some other returns to look forward to this Wednesday. That's because, for Suncorp shareholders, today is dividend payday.
Suncorp announced its full-year earnings for FY22 early last month. As we covered at the time, Suncorp's FY22 earnings saw the company report a 14% increase in revenues to $14.17 billion. But that was not enough to stop Suncorp from posting a 24% slide in net profits after tax (NPAT) to $681 million.
Investors haven't reacted well, with the Suncorp share price now down almost 8% since the results were made public.
At today's pricing, the Suncorp share price remains down 10.87% in 2022 thus far, and down 17.55% over the past 12 months.
It's dividend payday for Suncorp shares
A final dividend of 17 cents per share, fully franked, was also declared last month. That was a significant drop from the final dividend of 40 cents per share announced last year. It's also lower than the interim dividend of 23 cents per share that investors received back in April.
Nonetheless, I'm sure many investors are looking forward to receiving this dividend today. Yes, today is payday, following Suncorp trading ex-dividend on 12 August last month.
So investors will either receive a cash payment today or additional Suncorp shares if the optional dividend reinvestment plan (DRP) is preferred.
At the current Suncorp share price, this dividend, combined with the previous interim dividend of 23 cents per share (also fully franked), gives the company a dividend yield of 3.89%. That grosses up to 5.56% with the full franking credits.
