If you're wanting to receive the upcoming Bank of Queensland Ltd (ASX: BOQ) dividend, then you will need to act fast.
That's because, it will soon be time for the regional bank's shares to trade ex-dividend.
The Bank of Queensland dividend
As a reminder, last month the bank released its half-year results.
For the six months ended 28 February, Bank of Queensland reported a 4% decline in cash earnings to $256 million. Management revealed that its earnings were supported by a margin tailwind, which materially reduced over the last two months of the half due to heightened mortgage and deposit competition.
However, this margin uplift was offset by a 7% increase in expenses. The company is now attempting to combat this with a simplification program.
In light of its earnings decline, it will be no surprise to learn that the Bank of Queensland interim dividend was cut by 9% to a fully franked 20 cents per share.
The good news, though, is that recent weakness in the Bank of Queensland share price means that this dividend equates to an attractive 3.4% yield. And there's still a final dividend to come later this year!
Going ex-dividend
As mentioned above, if you want to receive the Bank of Queensland dividend, you will need to make an investment today or tomorrow.
That's because the bank's shares will trade ex-dividend on Wednesday, which means that the rights to the payout will have been finalised and those holding shares at Tuesday's market close will receive the dividend even if they sold their holding the next day.
If you do own shares or plan to, you can look forward to receiving this dividend in your bank account in a touch over three weeks on 1 June.
