One of the biggest ASX 200 names that was scheduled to report its latest earnings this Monday is JB Hi-Fi Ltd (ASX: JBH). Well, JB did report its latest earnings covering the six months to 31 December this morning. And it made for some interesting reading, particularly regarding the latest JB Hi-Fi dividend.
As we went through for JB Hi-Fi this morning, it was a positively received report from the electronics and home appliances retailer.
The company reported that its total sales for the period declined by 2.3% to $51.6 billion. Earnings before interest and tax (EBIT) and net profits after tax (NPAT) were both down 20%. That was to $386.7 million and $264.3 million respectively.
However, as my Fool colleague posited this morning, these numbers were still well ahead of expectations. This probably explains why the JB Hi-Fi share price has popped a robust 5.66% so far today to $59.75 a share.
But let's get back to the JB Hi-Fi dividend.
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JB Hi-Fi reveals 20% dividend cut
So this morning, JB announced that its interim dividend for 2023 would come to a fully franked $1.58 per share.
That's a bit of a step back for investors. Last year, JB's interim dividend was worth $1.97 per share, so today's announced payout represents a 20% cut from that same dividend in 2023.
However, it's still a lot higher than JB's last final dividend from September 2023. That was worth $1.15 per share (keep in mind, JB does normally pay a larger interim dividend).
The ex-dividend date for this upcoming interim dividend has been set for 22 February later this month. So if you want to see the cash from this latest dividend arrive in your bank account, you'll need to own JB shares before that date.
8 March will then be payment day for investors.
JB Hi-Fi is not currently running a dividend reinvestment plan (DRP). As such, investors will have no choice but to accept the cash payment.
At the current share price of $59.75 (at the time of writing), JB Hi-Fi shares offer a trailing dividend yield of 5.22%. With today's announcement, the company now has a forward dividend yield of 4.57%.
