An ASX gold share will be dishing out a dividend to shareholders this week.
Owners of Newcrest Mining Ltd (ASX: NCM) shares will soon gain entitlement to their dividend. However, interested investors will need to be quick to buy if they want the dividend as well.
The gold miner is currently being acquired by Newmont Corporation (NYSE: NEM). Last week, Newcrest's shareholders voted in favour of the takeover going ahead, with 92.6% of votes supporting the deal.
Incoming special dividend and ex-dividend date
On 5 October 2023, Newcrest announced a special fully franked dividend of US$1.10 per Newcrest share, subject to the takeover going ahead.
Newcrest shares will go ex-dividend on 18 October 2023, which is Wednesday. That means ASX investors need to own shares before the end of trading tomorrow to gain entitlement to the incoming dividend.
Newcrest plans to pay this special dividend less than two weeks away, on 27 October 2023, so investors won't need to wait for long.
At the current Newcrest share price, the upcoming dividend could be approximately A$1.75 in Australian dollar terms. That would represent a cash dividend yield of 6.75% and a grossed-up dividend yield of 9.6%.
What next for Newcrest shares?
Newcrest shareholders will be entitled to 0.4 Newmont shares for each Newcrest share held on the record date, which is 30 October 2023.
The planned implementation date of the acquisition is 6 November 2023. Newmont CHESS depositary interests (CDIs) will list on the ASX on 26 October 2023.
