The latest Woodside Energy Group Ltd (ASX: WDS) dividend was announced on Tuesday when the S&P/ASX 200 Index (ASX: XJO) oil and gas stock reported its half-year results.
If you're after some of that passive income, here's what you need to know.
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What's happening with the Woodside dividend?
Woodside reported some strong results, though not all the metrics were up for the half year.
The company reported record first-half net profit after tax (NPAT) of US$1.74 billion, up 6% from H1 2022. And underlying NPAT was up 4% to US$1.90 billion.
Earnings before interest and taxes (EBIT) went the other way, declining 6% year on year to $2.79 billion.
And passive income investors will take note that the fully franked interim dividend of 80 US cents per share is also down 27% from the 2022 interim dividend.
The interim Woodside dividend equates to a payout ratio of approximately 80% of NPAT, with a total payment value of $1.5 billion. That's in line with last year's payout ratio and on the high end of management's 50% to 80% target range.
Commenting on the Woodside dividend, CEO Meg O'Neill said:
Our strong financial performance and our focus on disciplined capital management has enabled us to maintain our interim dividend payout ratio through the cycle.
As for what's ahead, O'Neil said, "Our active management of the debt portfolio positions Woodside's balance sheet well as we invest in future production."
You've likely noticed, the dividend is quoted in US currency. Aussie investors will see that converted into Aussie dollars based on the foreign currency exchange rates around the record date of 1 September 2023.
At today's 64.10 cents, it would work out to just under AU$1.25 a share.
At yesterday's closing price of $38.06 a share, that represents a pending yield of 3.3% on just this interim payout.
The dividend reinvestment plan (DRP) was suspended on 27 February this year and will not be in effect for this payout.
If you're looking to grab the dividend, you'll need to own Woodside shares at market close on 30 August. The stock trades ex-dividend on 31 August.
Eligible investors can expect to see that passive income hit their bank accounts on 28 September.
