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In the Australian share market, a stock going 'ex-dividend' means that any investors who buy shares from that day onward will miss out on the upcoming dividend payment. This often results in a noticeable drop in the stock's price, reflecting the value of the dividend that new buyers won't receive. Next week, two ASX 200 companies will reach their ex-dividend dates, making it crucial for investors to be aware of these events.
CSR Ltd (ASX: CSR)
First on the list is CSR Ltd, a building products company. CSR has been in the spotlight this year after accepting a AU$9 per share takeover offer from French company Saint-Gobain. As a result of this takeover, CSR shares will be removed from the ASX 200 Index on Thursday, 20 June. However, before this exit, CSR has one final dividend payout planned.
On 1 July, CSR will distribute a fully franked dividend of 12 cents per share. This payment is part of the overall AU$9 per share takeover deal, meaning shareholders will effectively receive AU$8.88 per share in cash plus the 12 cents dividend. To be eligible for this payout, investors must own CSR shares before the company trades ex-dividend on Friday, 21 June. Currently, CSR shares are offering a dividend yield of 3.9%.
Premier Investments Ltd (ASX: PMV)
Next up is Premier Investments Ltd, known for its popular Australian retail brands such as Smiggle, Dotti, and Peter Alexander. Premier's latest earnings report in March was well-received, partly due to the announcement of an interim dividend of 63 cents per share, fully franked. This represents a 16.7% increase over the previous year's interim dividend of 54 cents per share.
This dividend will be paid out on 27 July. To receive this payment, investors must own Premier shares before the ex-dividend date, which is set for next Tuesday, 18 June. Premier shares currently offer a dividend yield of around 4%.
