Healthcare stock ResMed Inc (ASX: RMD) remains a popular investment for Australian investors in 2024. And for good reason. This company is now sitting on a year-to-date gain of more than 44%.
The company's last quarterly earnings report, which we covered last week, showed Resmed bringing home US$1.22 billion in revenues for the three months to 30 September. That was an 11% rise compared to the same period in 2023.
Resmed also reported that its gross margins rose to 58.6%, a 420 basis point improvement. That was made possible thanks to manufacturing efficiencies, component cost improvements, and an increase in average selling prices.
This led to Resmed revealing a 42% increase in its net income to US$311.4 million and a 42% boost in its earnings per share (EPS) to US$2.11.
This helped Resmed announce a quarterly dividend of 5.3 US cents per share for Resmed's ASX-listed stock. As is normal for Resmed, this payment won't come with any franking credits attached, reflecting the international nature of this company's earnings base.
We don't yet know exactly how much this dividend will be worth in Australian dollar terms. However, at current exchange rates, we can approximate it to roughly 8.1 cents in the local currency.
Now that's a big deal for Resmed investors. That's because this dividend is on track to be one of Resmed's highest-ever quarterly dividend payments. Its previous three quarterly payments came to 8.02 cents, 7.25 cents and 7.39 cents, respectively.
How to secure the next Resmed dividend
In saying all of this, time is running out to secure this latest Resmed dividend for any investor who doesn't already own this company. That's because Resmed has set next Wednesday, 6 November, as the ex-dividend date for this latest shareholder payment.
As such, anyone who wishes to receive this latest quarterly dividend from Resmed must own the company's shares as of the market close next Tuesday, 5 November. If an investor buys Resmed on or after 6 November, they will leave the rights to receive this dividend with the seller.
So, expect to see a dip in the Resmed share price next Wednesday, reflecting this inherent loss of value.
For eligible investors, the dividend payday will be on 12 December next month, just in time for Christmas.
In the meantime, we will find out the exact dividend amount in Australian dollars next week on 8 November.
