Woodside Energy Group Ltd (ASX: WDS) shares investors can get excited about passive income – the Woodside dividend has been announced.
The business just announced a fairly challenging FY24 first-half result. Operating revenue fell by 19% to US$6 billion, the underlying net profit after tax (NPAT) fell 14% to US$1.6 billion, and the reported net profit increased 11% to US$1.9 billion.
The ASX energy share is committed to paying investors an appealing dividend, and the latest payout is no exception.
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Woodside dividend
The Woodside board of directors has decided on a fully franked interim dividend of 69 US cents per share, which is currently approximately A$1.02 per share in Australian dollar terms.
The dividend is 13.75% lower than the FY23 first-half payment but 15% higher than the FY23 final dividend.
This payment alone represents a fully franked dividend yield of 3.7% and a grossed-up dividend yield of 5.3%.
Woodside noted the annualised dividend yield is currently 7.3%, though the full-year FY24 dividend is not guaranteed to be that level – it could be lower (or higher).
The declared payment represents a US$1.31 billion payout to shareholders, which equates to a dividend payout ratio of approximately 80% of underlying NPAT for the first half of FY24.
In the first half of FY24, the company generated US$2.39 billion in operating cash flow and US$740 million in free cash flow.
The company said it has continued capacity to pay strong dividends. It also said it's continuing to manage costs in an inflationary environment, maintain disciplined capital management and actively manage its debt and liquidity profile to fund value-accretive growth and returns.
Important dates
If investors want a slice of this upcoming payment, they need to make sure they own Woodside shares before the ex-dividend date.
In an announcement to the ASX, the ASX energy share reported that the ex-dividend date is Thursday, 5 September 2024. That means investors need to be shareholders by the end of trading on Wednesday, 4 September 2024.
Woodside is planning to pay this dividend to shareholders on 3 October 2024.
The dividend reinvestment plan (DRP) remains suspended, so all Woodside shareholders will receive cash as their payment.
Woodside share price snapshot
The Woodside share price has fallen 12% in 2024 to date, compared to a 5.8% rise for the S&P/ASX 200 Index (ASX: XJO). However, this week, Woodside shares have risen approximately 6.5%.
