- Dividends are typically published a few weeks before the ex-dividend date.
- Investors should buy shares before the ex-dividend day to receive dividends as an eligible shareholder.
- Some notable companies like Cochlear are going ex-dividend today.
Stock exchange rules determine the ex-dividend date once the corporation sets the record date. The ex-dividend date is usually one day (business day) before the record date for stocks. Investors will not get the next dividend payment if they buy a stock on or after the ex-dividend date. In that case, the seller will get the dividend. An investor will get the dividend if he/she buys before the ex-dividend date.
In this article, we will discuss about four companies that went ex-dividend today (28 March 2022), and their performance on the day. These companies include Cochlear Limited, Lycopodium Limited, Naos Emerging Opportunities Company Ltd, and Reece Limited.
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Cochlear Limited (ASX:COH)
ASX-listed medical device company Cochlear provides implantable hearing solutions. The company designs and offers products and accessories for adults or children and operates through three segments: cochlear implants, services, and acoustics.
Cochlear operates in America, Europe, the Middle East, and Africa (EMEA), and the Asia Pacific.
In February 2022, the company announced its half-yearly results for the financial year 2022. It recorded a 26% growth in the underlying net profit to AU$158 million. Cochlear declared an interim dividend of AU$1.55 per share, an increase of 35% compared to last year and representing a payout of 65% of underlying net profit. During this period, the company's sales revenue grew 12% to AU$815 million.
Today (28 March), the company is going ex-dividend and decided to pay a dividend of AU$1.55 per share to its shareholders on 21 April 2022. The record date for this dividend payment is 29 March 2022.
At the time of writing this article, the company's shares were trading flat at AU$216.64 apiece, down 2.8% on ASX.
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Lycopodium Limited (ASX:LYL)
Lycopodium Limited is an Australian engineering and project delivery business that works in the resources, infrastructure, and industrial processes industries. Minerals, Process Industries, and Project Services Africa are the company's three segments.
The minerals division provides mining companies with engineering and related services. Under the Process Industries section, engineering and related services are supplied to manufacturing and renewable energy plants across Australia and Southeast Asia. Project management, construction management, and commissioning services are provided to the extractive mining industry in Africa under the Project Services Africa section.
In its 1HFY22 results, Lycopodium generated revenue of AU$102.4 million and net profit after tax (NPAT) of AU$15.3 million for the six months ended 31 December 2021 (1HFY2022).
Lycopodium turned ex-dividend today (28 March) and decided to pay a fully franked final dividend of AU$0.18 per share on 07 April 2022.
The company's shares were trading 0.52% down today at AU$5.8 apiece at the time of writing this article.
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NAOS Emerging Opportunities Company Ltd (ASX:NCC)
NAOS Emerging Opportunities Company Limited is an investment firm established in Australia. Intending to provide investors with meaningful exposure to emerging firms, the company principally invests in a concentrated portfolio of listed entities that are not included in the Standard & Poor's/Australian Securities Exchange 100 (S&P/ASX 100) Accumulation Index.
It invests in consumer discretionary, communications services, bulk commodities, transportation, and real estate sectors. NAOS Asset Management Limited is the company's investment manager.
NAOS turned ex-dividend today and decided to pay a fully franked final dividend of AU$0.037 per share on 21 April 2022.
The company's shares were trading 4.6% down today (28 March) at AU$1.03 apiece at the time of writing this article.
Reece Limited (ASX:REH)
Reece Limited is an ASX-listed company that operates as a plumbing, building and hardware merchant across Australia. The company offers several bathroom, kitchen and laundry products through its national stores and showrooms. Reece's products are utilised by plumbers, consumers, architects, builders, and interior designers.
The Reece Group is a leading distributor of plumbing, waterworks and HVAC-R products to commercial and residential customers through 800 branches in Australia, New Zealand and the United States.
Last month, it released its first-half FY22 results for the six months ended 31 December 2021. Despite unprecedented challenges, the company successfully reported solid results with sales up 17% on the prior year to AU$3.6 billion and net profit after tax up 28% to AU$157 million.
The capital goods company Reece turned ex-dividend today (28 March 2022). It would pay a fully franked dividend of AU$0.077 per share to its shareholders on 12 April 2022. The record date for this dividend payment is 29 March 2022.
At the time of writing this article, the company's shares were trading at AU$18.87 apiece, down 2.18% on ASX.