If you want to receive the next Pilbara Minerals Ltd (ASX: PLS) dividend, then you will have to get a wriggle on.
That's because this lithium miner's shares will be trading ex-dividend next week.
Once the ex-dividend date is reached, the rights to the company's dividend will be settled and new buyers of its shares won't be entitled to receive the payout.
Instead, the dividend will land in the bank account of the seller of its shares, even though they no longer actually own the shares.
The Pilbara Minerals dividend
Last month, Pilbara Minerals released its full-year results and reported a 242% increase in revenue to $4,064 million and a 329% jump in underlying profit after tax to $2,276.3 million.
This was driven by a 68% increase in spodumene concentrate sales volumes to 607.5kt and a sizeable 87% jump in the average realised price to US$4,447 per tonne.
In light of this strong profit growth, the Pilbara Minerals board was able to declare its first-ever fully franked final dividend. The miner is rewarding its shareholders with a 14 cents per share payout.
Combined with its inaugural 11 cents per share interim dividend, which was paid earlier this year, this took its FY 2023 dividend to 25 cents per share.
Based on the current Pilbara Minerals share price of $4.57, this equates to yields of 5.5% for the full-year dividend and 3% for just the final dividend.
How do I receive it?
If you want to receive the Pilbara Minerals final dividend, you will have to snap up the company's shares before they trade ex-dividend on Tuesday 5 September.
This means you will need to be on the company's share registry at the close of play on Monday at the very latest. Any later than that and you will miss out.
If you are eligible to receive the dividend, then you won't have to wait long for payday. The lithium miner intends to make the payment later this month on 27 September.
