The Bendigo and Adelaide Bank Ltd (ASX: BEN) dividend is due to hit bank accounts today.
Bendigo shares have descended nearly 11% since market close on 29 August to $7.91. For perspective, the S&P/ASX 200 Index (ASX: XJO) has slid 7% in the same time frame.
Let's take a look at the details of the Bendigo Bank dividend.
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Bendigo and Adelaide Bank pays out dividend
Bendigo and Adelaide Bank shareholders are set to receive a final dividend of 26.5 cents per share fully franked.
The bank's total dividend payout for FY22 is 53 cents per share. This is 6% more than the 50 cents per share total dividends paid out in FY21.
In FY20, Bendigo and Adelaide Bank paid a dividend of 35.5 cents per share, 33% less than the total dividends in FY22.
However, in FY19, the bank's total dividend was 70 cents per share, 32% more than the 2022 financial year.
Bendigo and Adelaide Bank reported a 2.7% lift in underlying profit (pre-credit expenses) to $693.6 million in FY22. Statutory net profit after tax fell 6.9% to $488.1 million.
Commenting on the dividend in the company's FY22 results in August, CEO and managing director Marine Baker said:
This decision supports our strong capital position and business outlook, while balancing our commitment to supporting shareholders with a fair return.
Bendigo Bank also offered investors a dividend reinvestment plan (DRP) and a bonus share scheme for this dividend. A DRP enables shareholders to reinvest all or part of their cash dividends into new shares in the company. The bank's bonus scheme allows shareholders to receive bonus shares in place of the cash dividend.
Bendigo Bank share price snapshot
The Bendigo Bank share price has fallen nearly 16% in the past year, while it has descended more than 13% in the year to date.
For perspective, the ASX 200 has shed more than 11% in the past year.
Bendigo Bank has a market capitalisation of nearly $4.5 billion based on the current share price.
