Everything you need to know about the Telstra dividend

Is the telco giant's latest dividend worth getting excited about?

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Telstra Group Ltd (ASX: TLS) shares are a popular option for income investors.

Particularly in recent times after the telco giant's earnings and dividend returned to growth.

The good news for shareholders is that this positive trend has continued on Thursday, with the company releasing its half-year results and delivering further growth.

What's the latest Telstra dividend?

In case you missed it, this morning Telstra reported a 1.2% increase in total income to $11,700 million and a 3.1% lift in underlying EBITDA to $4,001 million.

This was driven largely by its mobile business, which offset weakness across mobile hardware, Fixed C&SB, Fixed Enterprise, and Fixed Active Wholesale.

While this result was a touch short of expectations, it didn't stop the Telstra board from increasing its dividend for the first half of FY 2024.

The company increased its fully franked interim dividend by 5.9% to 9 cents per share. Management notes that this is consistent with its capital management framework to maximise the fully franked dividend and seek to grow it over time.

When is pay day?

If you want to receive the next Telstra dividend, you will need to own the company's shares before they trade ex-dividend on 28 February.

If you're not on its share register before the market open on that day, you won't be entitled to receive this payout when it is distributed to shareholders.

Speaking of which, Telstra is scheduled to pay the 9 cents per share fully franked interim dividend on 28 March.

Based on its current share price, this single dividend equates to an attractive 2.3% dividend yield.

And if it were to repeat this dividend in August with its full year results, you will be looking at a 12-month yield of 4.6%.

Motley Fool contributor James Mickleboro 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 positions in and has recommended Telstra Group. 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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