It was only on Tuesday that we got the latest look at ASX 200 bank share Westpac Banking Corp (ASX: WBC)'s full-year results for FY2023.
As we went through at the time, it was a pretty pleasing set of numbers from the ASX 200 bank share.
Westpac reported a 36% rise in net operating income to $21.65 billion, as well as a 26% lift in profits after tax to $7.2 billion.
That enabled Westpac to announce a $1.5 billion share buyback program, as well as a 14% lift to its full-year dividend to $1.42 per share.
Yes, the final Westpac dividend for 2023 will come in at 72 cents per share, fully franked of course. That represents a pleasing 9.38% increase over the final dividend of 64 cents per share that investors enjoyed last year. It's also a slight bump over the interim dividend of 70 cents per share (also fully franked) that was paid out to Westpac shareholders back in June.
But if any potential Westpac shareholders out there wish to receive this upped Westpac dividend, they had better act quickly. That's because Westpac's ex-dividend date is fast approaching.
Here's how to secure the next Westpac dividend
Whenever a company announces a dividend, it must also choose an ex-dividend date to match. The ex-dividend date is the date that rules out new investors from receiving an upcoming dividend.
Put simply, if you own a company's shares as of the day before a company trades ex-dividend, you get the paycheque. But if you buy them on or after the ex-dividend date, you miss out.
In this case, Westpac has announced an ex-dividend date of 9 November, tomorrow. So if you wish to bag this latest bank payout, you will need to buy the shares before close of trading today.
Eligible investors will then receive this Westpac dividend next month on 19 December, just in time for Christmas. So circle that on your advent calendar, Westpac shareholders.
At yesterday's closing Westpac share price of $21.33, this ASX bank share had a trailing dividend yield of 6.28%, and a forward dividend yield (which includes the upcoming payment) of 6.66%. Make of that what you will.
