The Bendigo and Adelaide Bank Ltd (ASX: BEN) dividend is due to hit bank accounts today.
Shares in the regional bank have slid 11% in the year to date, closing at $8.70 apiece on Thursday.
For perspective, the S&P/ASX 200 Index (ASX: XJO) has gained 1.2% in the year to date.
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Bendigo and Adelaide Bank dividend is due today
Bendigo and Adelaide Bank shareholders are set to collect an interim dividend of 29 cents per share, fully franked.
The dividend is 9.4% higher than the 26.5 cents a share dividend paid in the second half of last year.
The bank reported statutory net earnings of $249 million in the first half of FY23, up 49.3% on the prior half but down 22.5% on 1H FY22.
The FY23 interim dividend represents a 55.6% payout ratio, calculated on a cash basis.
Commenting on the dividend in a half-yearly report in February, Bendigo Bank stated:
We announced a fully franked interim dividend of 29.0 cents per share, supporting our strong capital position and our business outlook, while balancing our commitment to support our shareholders with a reasonable return on their investment.
Taking a look at Bendigo Bank's dividend history, the company also paid 26.5 cents per share in the first half of 2022 and the second half of 2021.
However, back in FY19, prior to COVID-19, the bank offered both an interim and final dividend of 35 cents per share.
Bendigo Bank also offers a dividend reinvestment plan. This means shareholders can reinvest all or part of the dividend into new shares in the company. The bank also offers a bonus share scheme, enabling investors to receive bonus shares for no consideration instead of a dividend.
Share price snapshot
The Bendigo and Adelaide Bank share price has fallen 15.5% in the past year amid broader bank share volatility.
For perspective, the ASX 200 has shed 5.2% in the past year.
Bendigo Bank has a market capitalisation of more than $4.9 billion based on the current share price.
