Hoping to bank the latest AMP dividend? Here's what you need to know

AMP reported on its half year financial results last week, including the interim dividend payout.

| More on:
A man sits in contemplation on his sofa looking at his phone as though he has just heard some serious or interesting news.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

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.

Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

A man holding a cup of coffee puts his thumb up and smiles while at laptop.
Dividend Investing

Analysts say these ASX 200 dividend stocks are best buys in April

What are analysts saying about these high quality companies?

Read more »

A man in a business suit whose face isn't shown hands over two australian hundred dollar notes from a pile of notes in his other hand to an outstretched hand of another person.
Dividend Investing

Buy these ASX dividend shares for income

Analysts have put buy ratings on these income stocks.

Read more »

footwear asx share price on watch represented by look holding shoe and looking intently
Consumer Staples & Discretionary Shares

Does this ASX 300 retail stock really have a 7.6% dividend yield right now?

Is a 7.67% dividend yield too good to be true?

Read more »

A man in his office leans back in his chair with his hands behind his head looking out his window at the city, sitting back and relaxed, confident in his ASX share investments for the long term.
Dividend Investing

Brokers say these ASX 300 dividend stocks are top buys

Attractive dividend yields could be on offer with these shares.

Read more »

Happy woman looking for groceries. as she watches the Coles share price and Woolworths share price on her phone
Dividend Investing

Invest $20,000 in this ASX 100 dividend stock for $1,126 in passive income

Here's my take on this 5.6% dividend stock...

Read more »

a woman wearing fashionable clothes and jewellery checks her phone with a satisfied smile on her face in a luxurous home setting.
Dividend Investing

Buy Telstra and these high-yield ASX dividend shares

Analysts think these income options could be top buys right now.

Read more »

Man holding fifty Australian Dollar banknote in his hands, symbolising dividends, symbolising dividends.
Dividend Investing

For a shot at $5,000 a year in passive income, buy 710 shares of this ASX stock

I think every passive income investor should have this ASX dividend stock in their portfolio.

Read more »

Woman calculating dividends on calculator and working on a laptop.
Dividend Investing

3 ASX 300 dividend stocks to buy now for income

Brokers think these dividend stocks are buys right now. What sort of yields are they forecasting?

Read more »