The Premier Investments Limited (ASX: PMV) share price was a very strong performer on Thursday.
The retail conglomerate's shares rocketed higher after investors responded positively to the release of a better than expected full year result.
What happened in FY 2022?
For the 12 months ended 30 July, Premier reported a 5.2% increase in global sales to $1,497.5 million. This was despite the company losing 42,675 trading days from COVID-related store closures.
Goldman Sachs was impressed with its performance. It commented:
PMV reported strong FY22 results with Sales +3.8% YoY (+6% vs GSe, +4% vs Factset Consensus) and normalized NPAT +7.4% YoY (29% vs GSe, 9% vs Factset Consensus). The beat was largely driven by stronger than expected sales across all key segments, with Peter Alexander (+10% vs GSe), Smiggles (+7% vs GSe) and Apparel Brands (+3% vs GSe), while expenses were largely in-line with GSe.
Also getting investors excited was the Premier Investments dividend for FY 2022.
The Premier Investments dividend
In light of its strong performance, the Premier Investments board declared a fully franked final dividend of 54 cents per share and a fully franked special dividend of 25 cents per share.
This took its full year dividend to $1.25 per share, which was up a massive 56.3% year over year.
Based on the current Premier Investments share price of $23.25, this represents a very generous 5.4% dividend yield.
To qualify for the final and special dividends, investors will need to snap up shares before they trade ex-dividend. But unlike most companies that pay their dividends within a month to six weeks of their results, this won't be happening any time soon.
For reasons unknown, Premier Investments' shares won't be trading ex-dividend until 10 January 2023. The company will then pay these dividends to shareholders in just under four months from today on 25 January 2023.
