It's a great day for owners of ASX 200 coal share New Hope Corporation Ltd (ASX: NHC). Not that you'd know it from looking at the New Hope share price right now. So far this Wednesday, New Hope shares have retreated by 0.11%, and are down to $4.54 each.
In fact, it's been a rough few months for owners of this ASX energy stock. The New Hope share price remains down by more than 14.4% year to date, as well as down more than 16% over the past 12 months.
However, whilst this painful share price drop has no doubt been difficult for investors to endure, it has done wonders for New Hope's dividend yield. Right now, New Hope shares are trading on a trailing dividend yield of 8.36%. New Hope's dividends usually come with full franking credits attached too, which means this yield grosses up to a huge 11.94% with the value of those franking credits factored in.
This is directly relevant to New Hope investors today. That's because today is dividend payday for all eligible shareholders of this company.
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What kind of dividend cash is coming for New Hope shareholders today?
As we covered early last month, New Hope shares traded ex-dividend for its interim payout of 2024 on Monday 15 April.
That means that anyone who owned New Hope shares as of the close of trading on 12 April is eligible to receive this latest shareholder payment from the company. But if you initiated a position in New Hope on or after 15 April, you'll be missing out this time.
The dividend that is arriving in those lucky investors' bank accounts today is worth a fully-franked 17 cents per share.
This represents a hefty 57% cut over last year's equivalent payment of 30 cents per share. That also came with an additional 10 cents per share special (and fully franked) dividend, which is sadly missing this year.
It's also a downgrade from the fully-franked final dividend of 21 cents per share that was doled out last October.
Even so, thanks to New Hope's recent share price falls, today's dividend payment alone represents a yield (at today's pricing) of 3.74%. As such, many investors will be bagging themselves a sizeable cheque in the proverbial mailbox this Wednesday.
