Washington H Soul Pattinson and Co Ltd (ASX: SOL) could be the market's most consistent dividend share.
Not only is it the only All Ordinaries Index (ASX: XAO) stock to have paid a dividend every year since listing (way back in 1903, I might add), but it's also grown its offerings every year for the last 23 years.
And the investment house kept its track record alive yesterday when it declared a 36 cent per share interim dividend. That marked a 24% jump on that of the prior comparable period.
No doubt the news piqued the interest of many passive income investors. So, without further ado here are all the need-to-know details regarding the S&P/ASX 200 Index (ASX: XJO) staple's upcoming payout.
The Soul Patts share price last traded at $28.91.
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All the details on Soul Patts' record interim dividend
The Soul Patts share price jumped 1.3% on Thursday after the company declared a 36-cent per share interim dividend – a new record for its kind.
The offering will be fully franked, meaning it could bring tax benefits to some investors.
The ASX 200 share will trade ex-dividend on 19 April with the payout hitting bank accounts from 12 May.
Investors need to be on board the stock before its ex-dividend date in order to qualify to receive the dividend.
The company pays dividends out of its net cash flows from investments. They jumped 35% last half to reach $246.5 million on higher dividends from its strategic portfolio and contributions from Milton.
Looking longer-term, those holding Soul Patts shares have seen their interim dividends realise a compound annual growth rate (CAGR) of 9% over the last two decades.
In that time, the investment house brought about a total shareholder return of 12.3% per annum.
Considering its newly declared interim dividend and its recent final dividend, Soul Patts shares currently offer a 2.73% dividend yield.
The ASX 200 giant will likely reveal its next final dividend alongside its full-year earnings in late September.
