The Woodside Energy Group Ltd (ASX: WDS) share price is down 3.8% in early trading after the ASX energy share went ex-dividend today.
The company is one of the largest dividend payers on the ASX, so it's no surprise that important dividend dates on the financial calendar can affect how investors value the Woodside share price.
What's going on?
Today is ex-dividend day for the ASX energy share, meaning that investors wishing to buy new Woodside shares are no longer entitled to the FY23 half-year dividend payment.
As Wednesday was the last day that investors were able to buy shares for the upcoming dividend, anyone buying Woodside shares today will be getting less total value than yesterday. And that is reflected in today's Woodside share price drop, which is a similar amount to the value of the Woodside dividend.
How large is the Woodside dividend?
According to the ASX energy share, it's going to pay a fully franked US 80 cents per share dividend to investors on 28 September 2023. At this stage, the company does not know exactly what it's going to pay to investors in Australian dollar terms – it will provide an estimate for the amount on 7 September 2023.
The US dollar amount currently converts into an Australian dollar equivalent of A$1.24 per share.
Using the closing Woodside share price from yesterday before it went ex-dividend, the impending interim dividend equated approximately to a fully franked dividend yield of 3.2%, or 4.6% grossed-up.
What's next for Woodside shares?
The company only recently reported its 2023 half-year result, so there are another six months to wait for its 2023 annual report.
Before then, the company will post its 2023 third quarter update in less than two months and its 2023 fourth quarter update in less than five months.
We may also hear about important updates in the coming months regarding the company's projects. For example, the company announced earlier this week that the Trion field development plan had been approved by the Mexican regulator.
Woodside is now working to develop the resource and has executed key contracts, such as the floating production unit engineering, procurement and construction. The first oil is targeted for 2028. Woodside has a 60% participating interest.
Before going ex-dividend, Woodside shares were up around 9% in 2023, which handily outperformed the S&P/ASX 200 Index (ASX: XJO), which has lifted 5% over this calendar year.
