If you're wanting to snare the next Commonwealth Bank of Australia (ASX: CBA) dividend, you will have to get a move on.
That's because it won't be long until Australia's largest bank's shares go ex-dividend.
That's the day that the rights to the CBA dividend are settled and even if you buy shares first thing in the morning, you won't be entitled to receive the payout. Instead, it will stay with the seller of the shares, even though they no longer own them.
In order to qualify for the dividend payment, you will need to ensure that you are on the CBA share register at the close of play the day before the ex-dividend date.
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Everything you need to know about the CBA dividend
Last week, CBA released its FY 2023 results and reported a 13% increase in operating income to $27,237 million and a 6% lift in cash net profit after tax to $10,164 million.
This allowed the CBA board to declare a fully franked final dividend of $2.40 per share, which took its full-year dividend to $4.50 in FY 2023. This represents a 16.9% year-on-year increase over what it paid to shareholders back in FY 2022.
As mentioned above, you don't have long to go if you want to be paid this dividend. CBA's shares will trade ex-dividend for this final dividend on Wednesday 16 August. This means that (if you don't already own them) you have today and tomorrow to buy the bank's shares if you want to receive this dividend next month.
The bank has pencilled in a payment date of 28 September for the $2.40 per share dividend, which equates to a 2.3% fully franked yield based on the current CBA share price.
