2 high-profile ASX retail shares with ex-dividend dates next week

It's almost dividend time!

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We've seen a large torrent of results delivered to shareholders over the last couple of months. Now it's time for the dividends that were declared to be paid to investors. The important date to note is the ex-dividend date for the two ASX retail shares I'm going to cover.

The ex-dividend date is the cut-off date for prospective investors who want to be entitled to the upcoming dividend. If an investor wants to receive that dividend, they need to own shares before that date.

For example, if the ex-dividend date is 27 September 2023, then investors need to make sure they own shares by the end of trading on 26 September 2023.

Let's look at two of the businesses that will be dishing out dividends to shareholders soon.

Nick Scali Limited (ASX: NCK)

Nick Scali is a retailer of furniture through both its Nick Scali stores as well as the recently-acquired Plush.

It recently reported its FY23 result which showed a 26% increase in net profit after tax (NPAT) to $101 million. After this profit generation, the board decided to declare a final dividend per share of 35 cents, which was the same as last year. The full-year dividend was 75 cents per share, which was 7.1% higher than FY22 thanks to the interim dividend being increased.

The ASX retail share will go ex-dividend on 26 September 2023. That means investors have until the end of 25 September 2023 to buy Nick Scali shares to gain entitlement to this dividend. The payment date for this upcoming dividend is 18 October 2023.

At the current Nick Scali share price, this upcoming dividend alone amounts to a grossed-up dividend yield of 4%.

Myer Holdings Ltd (ASX: MYR)

Myer is one of Australia's largest department stores and, over the longer term, it is growing its online sales.

The business reported that its underlying net profit after tax improved by 18.2% to $71.1 million and total sales rose 12.5% year over year to $3.36 billion.

The ASX retail share declared a fully franked final dividend of 1 cent per share, taking the total FY23 dividend to 9 cents per share, which included a 4 cents per share interim dividend and 4 cents per share interim special dividend – the interim dividends have already been paid. FY22 only saw a total dividend of 4 cents per share.

The ex-dividend date for its FY23 final dividend is 27 September 2023, so investors need to own Myer shares by the end of trading on 26 September. The payment date for this upcoming dividend is 16 November 2023.

If we look at the grossed-up dividend yield for this single dividend, it's 2.4%.

Motley Fool contributor Tristan Harrison 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.

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