Looking to bag the upcoming Macquarie Group Ltd (ASX: MQG) dividend?
You're not alone!
Passive income investors holding Macquarie shares have benefited on two fronts over the past year.
First, shares in the S&P/ASX 200 Index (ASX: XJO) diversified financial stock have been on a tear.
Up 0.3% in late morning trade today at $230.13 apiece, Macquarie shares have soared 42.8% over 12 months when those same shares were trading for $161.10.
And that's not including the two Macquarie dividends declared over the year.
On 2 July, eligible shareholders will have received the final dividend of $3.85 a share, franked at 40%.
The interim dividend, which you can still bank, is $2.60 a share, franked at 35%. Eligible shareholders can expect to receive this passive income payout on 17 December.
This interim dividend works out to a payout ratio of 61%. Macquarie's dividend policy remains at a 50% to 70% annual payout ratio.
Now, if we add the full year dividend payout of $6.45 back into the current share price, then the accumulated value of Macquarie shares over the past 12 months comes out to $236.58. Or an accumulated gain of 46.9% over the year, with some potential tax benefits from those franking credits.
Not bad!
But if you want to snag the latest payout, you best hurry.
Buy shares today to score the Macquarie dividend
Shares in the ASX 200 financial stock trade ex-dividend on Monday, 11 November.
So, if you want to scoop up the $2.60 interim Macquarie dividend, you'll need to own shares at market close today. Investors buying the stock on Monday will no longer be eligible for that payout.
Shares are to be acquired on-market to satisfy the dividend reinvestment plan (DRP) for the 1H25 interim ordinary dividend.
If you don't need the extra passive income right away, you may wish to consider Macquarie's dividend reinvestment plan.
By reinvesting those dividends over the longer term, you can potentially supersize your gains via the power of compounding. Taking advantage of the DRP also saves you on any transaction costs you might otherwise incur buying new shares.
Commenting on the Macquarie dividend reinvestment plan, management noted:
The company's Dividend Reinvestment Plan (DRP) remains active. The DRP is optional and offers ordinary shareholders in Australia and New Zealand the opportunity to acquire fully paid ordinary shares without transaction costs.
It is expected that shares allocated under the DRP will be purchased on market and allocated on the dividend payment date.
Over the half year, Macquarie reported net profit after tax of $1.61 billion, up 14% year on year.
