The S&P/ASX 200 Index (ASX: XJO) might have another passive income winner this financial year, with toll road operator Transurban Group (ASX: TCL) on track to post a notable full-year dividend.
The company upgraded its financial year 2023 dividend guidance earlier this week as it returned to profit in the first half.
Despite all that, the Transurban share price has slumped this week. Right now, the stock is trading for $14.085, 0.7% lower than it was at Friday's close.
Though, that's a better performance than the ASX 200's 0.9% drop over the course of this week so far.
So, how much might the ASX 200 giant offer investors later this year? Let's take a look.
Transurban to pay 57 cents of dividends per share in FY23
Owners of shares in ASX 200 giant Transurban may have had a happy surprise earlier this week when the company revealed it's aiming to payout 57 cents per share this financial year.
That's significant passive income and up from just 41 cents per share last fiscal year – marking a potential 39% year-on-year improvement.
That would see the stock boasting a 4% dividend yield at its current share price.
Transurban was previously planning to offer investors 53 cents per share for the period but boosted its expectations following a period of record revenue and traffic volumes. CEO Scott Charlton commented:
With positive traffic growth across our key markets, embedded inflation-linked protection on the majority of revenue, and the continued progress on key project milestones, we are well-placed to deliver on growth in future cash flow.
The company declared its 26.5 cents per share interim dividend independently of its half-year earnings in December. That means investors can likely expect a further 30.5 cent per share offering later this year.
If that turns out to be the case, it will mark the ASX 200 company's second-highest dividend offering ever, bested only by its 31 cents per share interim financial year 2020 payout. And it might not be long until that record is beaten.
What's next for the ASX 200 dividend share?
Citi has tipped an approximate 6% per annum dividend per share compound annual growth rate (CAGR) between now and financial year 2026, my Fool colleague James reports.
Meanwhile, Goldman Sachs expects Transurban's dividend to come in at 58 cents per share this fiscal year, 63 cents per share next financial year, and 67 cents per share in financial year 2025.
