If you're wanting to receive the upcoming Bank of Queensland Ltd (ASX: BOQ) dividend, then you will have to act fast.
That's because the regional bank's shares will be trading ex-dividend later this week.
When the ex-dividend date is reached, it means the rights to the dividend are now locked in. As a result, if you buy shares on that day (or after) the dividend rights will stay with the seller of the shares even though they may be sitting in your portfolio on payday.
The Bank of Queensland dividend
Earlier this month, Bank of Queensland released its FY 2023 results and revealed a 5% increase in total income but a 70% decline in statutory profit after tax to $124 million. The latter was impacted by one-offs and is not a true representation of its performance.
Things weren't quite as bad for its cash earnings after tax, which were down 8% to $450 million.
This ultimately led to Bank of Queensland cutting its final dividend by 4.2% to 21 cents per share, which brought its FY 2023 dividend to 41 cents per share. This represents a 10.9% reduction year on year.
With Bank of Queensland's shares currently fetching $5.51, its final dividend equates to an attractive fully franked 3.8% dividend yield.
Payday
If you want to receive the bank's next dividend, then you will need to be on its share registry before the ex-dividend date of Thursday 26 October. This gives you the remainder of today's session and tomorrow's session to snap up shares.
The good news is that you won't have long to wait for payday. That is currently scheduled to be in a touch over three weeks on 16 November.
