The mega Mineral Resources dividend is being paid today. Here's the lowdown

Own Mineral Resources shares? Here's the tea on your big payday.

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Do you own Mineral Resources Ltd (ASX: MIN) shares? Well, today's your lucky day. That's because this Wednesday is the day that the shareholders of this ASX 200 mining stock will receive their latest dividend payment.

Last month, we covered Mineral Resources' latest earnings for the full 2023 financial year. As we reported at the time, these earnings saw Mineral Resources reveal some impressive metrics. The company was able to bring in $4.8 billion in revenues over the year, a whopping 40% rise on the previous year. That enabled underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) to surge by 71% year on year to $1.8 billion.

What is the latest Mineral Resources dividend worth?

This earnings surge in turn allowed Mineral Resources to reveal a 90% increase to its full-year dividend over FY22's levels. The company's final dividend for FY23 is set to come in at a fully-franked 70 cents per share.

Together with the interim dividend of $1.20 per share that investors bagged in March, this takes Mineral Resources' full-year payments to $1.90 per share. That's a 90% increase on the $1 per share total investors enjoyed over FY22.

And the good news is that today is dividend payday for this latest 70 cents per share dividend.

Yep, Mineral Resources shares traded ex-dividend for this payment back on 8 September this month. As we warned at the time, this means that anyone who bought Mineral Resources shares on or after this date misses out on this dividend. But for those lucky shareholders who owned Mineral Resources shares before then, you'll be getting a welcome addition to your bank accounts today.

Of course, that's only the case if you haven't opted in for Mienral Resources' optional dividend reinvestment plan (DRP).

This DRP is active for this payment, which means that if you've opted in, you'll be receiving additional Mineral Resources shares today in lieu of a cash payment. That's with no discount rate though.

Mineral Resources share price snapshot

It's been a tough year for the Mineral Resources share price. Mineral Resources shares remain down 12.2% year to date in 2023 thus far, but are slightly in the green by 0.06% over the past 12 months, as you can see below:

Mineral Resources share price performance

At the current Mineral Resources share price, this ASX 200 mining share has a dividend yield of 2.88%.

Motley Fool contributor Sebastian Bowen 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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