Own CBA shares? Today is payday!

If you own CBA shares, today is your lucky day.

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If you own Commonwealth Bank of Australia (ASX: CBA) shares, then today is one of the two best days of the year for you. That's because this Thursday is dividend payday for CBA shareholders.

Last month, CBA revealed its full-year earnings for the 2023 financial year. As we reported at the time, these earnings were a blessing for shareholders. The bank announced its operating income for the financial year rose by a healthy 13% to $27.24 billion. Cash net profits were also up 6% to $10.16 billion.

This enabled Commonwealth Bank to declare a final dividend of $2.40 for 2023. As is typical with ASX 200 bank shares, this dividend will have full franking credits attached.

For one, this dividend represents an impressive 14.3% rise over last year's final payment of $2.10. But, in addition to March's interim dividend of $2.10 per share, it also takes CBA's full-year dividends to $4.50 per share. That's a 16.9% rise over 2022's dividend total of $3.85 per share.

Unfortunately for those investors who don't yet own CBA shares but might want to bag this dividend, the ship has sailed. As we warned last month, the ex-dividend date for this payout was set for 16 August. So anyone who didn't have CBA shares to their name by this date is not eligible to receive this latest payment from the bank.

But anyone who was on CBA's books prior to that date is in line to receive a divided paycheque today.

What is the latest dividend from CBA shares worth?

All CBA shareholders who haven't opted into the bank's ongoing dividend reinvestment plan (DRP) will today receive their cash. Those investors who have gone for the DRP will be in line to receive additional Commonwealth Bank shares at a value of $101.10 in lieu of the cash payment.

So if an investor owned 100 CBA shares, (worth $10,053 at yesterday's closing share price of $100.53), today will see them receiving $240 in passive dividend income, as well as $102.86 worth of franking credits.

CBA price snapshot

The CBA share price has had a rough year so far in 2023. At the latest pricing, CBA shares have slipped by 0.51% this year so far. However, the bank is still up 8.63%% over the past 12 months, as you can see below:

CBA share price

At the last CBA share price, this ASX 200 bank has a dividend yield of 4.48%.

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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