Hunting for passive income and hoping to bank the latest AMP Ltd (ASX: AMP) dividend?
The S&P/ASX 200 Index (ASX: XJO) financial stock reported its half-year financial results (H1 FY23) last week, 10 August.
Here's what you need to know.
AMP dividend snapshot
Among the highlights of AMP's half-year results was a 31% year-on-year increase in revenue from continuing operations, which reached $1.42 billion.
Underlying net profit after tax (NPAT) was up 23.9% from 1H FY22 to $57 million, though statutory NPAT declined 44% year on year to $261 million.
As for that passive income, the interim AMP dividend was 2.5 cents per share, franked at 20%.
That brings the past 12 months' payouts to 5.0 cents per share. At yesterday's closing price, AMP shares trade on a yield of 4.0%, partly franked.
"As part of our capital management program, we have returned $610 million in capital to shareholders through the share buyback and dividends in the past 12 months," AMP CEO Alexis George said on the day of the results announcement.
"We have a remaining $140 million to be returned by the end of October 2023 through the interim dividend we have announced today and further share buybacks," George added.
The interim AMP dividend will see shareholders receive a total of $70 million in payouts.
If you'd like to bank part of those dividends, you'll need to own the stock at market close next Tuesday, 23 August. AMP shares trade ex-dividend on 24 August.
Eligible investors can then expect to see that passive income hit their bank accounts on 29 September.
That is, unless you prefer to roll those dividends back into your AMP stock holdings.
The company's dividend reinvestment plan (DRP) is active. You'll just need to elect to use it before market close on 25 August.
