The market might still be sleepy after its four-day weekend over which many Australians enjoyed Christmas, but its back to business for investors wanting a piece of this S&P/ASX 200 Index (ASX: XJO) share's upcoming dividend.
ASX 200 toll road operator Transurban Group (ASX: TCL) will trade ex-dividend tomorrow. That means anyone wanting to get their hands on its interim dividend better jump onboard its shares today.
Let's take a closer look at the offering soon to be taken off the table.
Transurban will trade ex-dividend on Thursday
The market is only trading for three days this week, but they'll likely be a big few days for the Transurban share price.
New investors will miss out on its interim dividend unless they buy the ASX 200 share today.
Thus, tomorrow will likely see the stock fall in line with the value of its dividend. That's because the payout will no longer be able to be factored into its price.
Earlier this month, Transurban announced it would pay a 26.5 cent per share dividend for the six months ended 31 December 2022. The interim dividend will be paid out on 13 February.
That's the biggest offering Transurban has declared since 2019 and represents 50% of the company's financial year 2023 distribution guidance – 53 cents per share.
The ASX 200 shares' upcoming offering will be entirely unfranked but will be eligible for the company's dividend reinvestment plan (DRP).
No discount will be considered when determining what price new stocks will be issued under the plan. Shareholders have until Monday to elect to compound their dividends via the DRP.
Transurban share price outperforms ASX 200 in 2022
The Transurban share price is on track to outperform the ASX 200 over the course of 2022.
The stock has fallen 2% year to date to trade at $13.66 at the close on Friday. That leaves it boasting a 3.8% dividend yield.
Meanwhile, the ASX 200 has dropped 6% since the start of 2022.
