- Ex-dividend dates are closely watched by investors
- Many shares are going ex-dividend in September
- Ex-dividend dates are very important dates in the dividend cycle
We have entered the month of September. It is a time for investors to look out for the shares which have their ex-dividend dates soon.
Ex-dividend dates are the most important dates in the dividend cycle as investors can buy the stock of a particular company till that date to become eligible for the latest dividend. If an investor buys a dividend on that date or before that, they become eligible for the dividend.
The record date is the cut-off date when a company takes the list of its shareholders to whom dividends have to be paid out. Usually, the record date is one day after the ex-dividend date.
Against this backdrop, let’s discuss some important upcoming ex-dividend dates in September.
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Kiwi Property Group (NZX:KPG)
It is a mixed-used property company in New Zealand. It declared an interim dividend of 1.425 cents per share with the record date on 12 September. Imputation credits attached to the dividend are 0.271 cps. The payment date for the dividend is 21 September. The company is a consistent dividend payer.
Chorus Limited ( NZX:CNU )
It is a telecommunications company with a final dividend of 21 cps with no imputation credits. Its ex-dividend date is 12 September and the payment date is 11 October. CNU has been rewarding the shareholders with dividends consistently and has gained favour with them.
Argosy Property Group (NZX:ARG)
It is an infrastructure company that paid an interim dividend of 1.663 cps with 0.206 as its imputation credit. The ex-dividend date for the dividend is 13 September and the payment date is 28 September.
The Company has been rewarding the shareholders with dividends for many years despite the COVID-19 pandemic and related disruptions.
Just Life Group (NZX:JLG)
It is an NZ-based company that works towards enhancing Kiwis’ lives. It declared a final dividend of 1.400 cps with 0.544 cps as imputation credits. The ex-dividend date is 13 September. The payment date for the dividend is 21 September. The company is a consistent dividend payer.
Mercury NZ Limited (NZX:MCY) (ASX:MCY)
MCY generates and retails energy. It has announced a final dividend of 12 cps with 4.667 as its imputed credit. The payment date is 30 September and the ex-dividend date is 14 September. MCY has also been a consistent dividend-paying company with 2 dividends every year. The gross dividend yield on it works out to be 4.6%.
New Zealand Windfarms Limited (NZX:NWF)
NWF is a renewable energy company in New Zealand. The board of NWF declared a final imputed dividend of 0.25 cps to be paid on 22 September 2022. This takes the total unimputed dividend for FY22 to 0.83 cps. This is consistent with NWF’s new dividend policy to pay quarterly dividends of 70% to 100%.
Freighways Limited (NZX:FRE)
It is a freight and logistics company that rewarded its shareholders with a final dividend of 19 cps to be paid on 3 October. The ex-dividend date is 15 September. Imputation credits attached are 7.389 cps. The Company rewarded its shareholders with three dividends in 2021, and one each in 2020 and 2019.
Fletcher Company Limited (NZX:FBU)
It is a construction company that declared a final dividend of 22 cps with imputation credits of 8.556 cps. The payment date for the dividend is 6 October and the ex-dividend date is 15 September. FBU has been a consistent dividend payer and rewarded its shareholders with 2 dividends in 2021.
Contact Energy Limited (NZX:CEN)
This company harnesses renewable resources for electricity generation. It announced a final dividend of 21 cps with the ex-dividend date today. The payment date for the dividend is 27 September. And the dividend yield works out to be 5.7%.
The company declared its results, where it showed a decline of net NZ$5 million in its net profit over pcp. This decline has been attributed to lower operating earnings and higher depreciation.
Meridian Energy (NZX:MEL)
MEL is also an energy company that generates electricity from resources such as water, wind and the sun. MEL declared a dividend of 11.55 cps to be paid on 23 September. The record date for the dividend was 7 September. The company has been a consistent dividend payer with two dividends every year—interim and final. The gross yield on the dividend works out to be 4.56%.
Bottom Line: Investors are keen to look out for stocks with ex-dividend dates in September. There are a number of companies that have their ex-dividend dates after the earnings season.
This shows that corporate NZ has done well in FY22 or the first half of FY23 as the case may be.
Dividends are part of the profits given out to the shareholders as a reward for investing in their equity. It is a company’s discretion whether to part with the profit or keep it for growth.