Looking to cash in on the inaugural Pilbara Minerals dividend? You better hurry!

On the back of soaring revenue and rocketing profits, the Pilbara Minerals board declared the miner's first-ever dividend last Friday.

Bernd Struben

Author bio Bernd Struben earned his BA in economics from the University of Michigan in 1991, with post-graduate studies in environmental economics at the University of Connecticut. Over the years he’s written about and analysed the tourism industry in the Caribbean; Europe’s commercial real estate markets; and, since moving to Australia in 2010, global and Aussie share markets. Bernd studies geopolitical and macroeconomic trends, alongside sector and company specific data, to gauge what he believes could be tomorrow's best investments. In his free time, you might find Bernd at the beach with his family or working on his next science fiction novel. Areas of expertise Australian and global share markets Macroeconomic and geopolitical trends Real estate Education Economics, University of Michigan Favorite investment quote "The four most dangerous words in investing are: 'This time it's different." — Sir John Templeton

Published February 28, 2023 1:23 pm AEDT

On Friday, Pilbara Minerals Ltd (ASX: PLS) declared its first-ever dividend of 11 cents per share, fully franked.

The inaugural dividend will see the S&P/ASX 200 Index (ASX: XJO) lithium stock return some $330 million to shareholders.

The maiden Pilbara Minerals dividend came as the company reported some truly stellar results for the first half of the 2023 financial year (H1 FY23).

Top highlights included a 647% year-on-year increase in revenue, which hit $2.2 billion for the six months. And the statutory net profit after tax (NPAT) of $1.24 billion was up a whopping 989% from H1 FY22.

"The stage is set for Pilbara Minerals to take massive growth steps in the months and years ahead. This is just the beginning," CEO Dale Henderson said of those results.

On Pilbara Minerals' maiden dividend, he added:

This result has enabled the board to declare an inaugural fully franked interim dividend of 11 cents per share. This is a huge milestone for Pilbara Minerals, and we are very pleased to be able to reward our shareholders who have had faith and stuck with us over the journey.

For ASX 200 investors looking to cash in on the dividend, time is running short.

a group of people run towards the camera wearing business and smart casual clothes. — Image source: Getty Images

When does Pilbara Minerals trade ex-dividend?

If you'd like to receive the first-ever Pilbara Minerals dividend, you'll need to own shares by market close tomorrow, Wednesday 1 March.

The ASX 200 lithium share trades ex-dividend on Thursday.

Payment is scheduled for 24 March.

At the current share price of $4.18, that works out to an immediate yield of 2.6%.

New Zealand shareholders will be paid in New Zealand dollars. Everyone else will receive the dividend payout in Aussie dollars.

How has the ASX 200 lithium stock been performing?

As you can see on the chart below, the Pilbara Minerals share price is up 12% so far in 2023 and up 55% over 12 months.

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