Despite achieving the top end of its guidance for the 2022 financial year, the CSL Limited (ASX: CSL) share price has remained flat since the release of the results.
At last week's market close, shares in the biotherapeutics giant finished at $295.99. This compares to the $296.40 they were trading at before reporting the company's FY 2022 scorecard.
CSL CEO and managing director Paul Perreault acknowledged the resilient performance against the ongoing challenges of COVID-19, saying it was a 'good result'.
Nonetheless, the board opted to maintain its final dividend of US$1.18 (AU$1.68) per share. Due to favourable currency movements, this translates to a lift of 9 cents or 5.6% over the prior corresponding period.
Investors were quick to react to the results, sending CSL shares to a monthly low of $278.89. But as the day went on, the share price mostly recovered to end at $292.50 – down 1.32%.
Let's look at the details you need to know about the upcoming dividend.
Image source: Getty Images.
Time is running out for the CSL dividend
Investors will have until the end of today to secure the CSL dividend.
The ex-dividend date falls on Tuesday 6 September.
This means if you buy the company's shares before market close today and hold them until tomorrow morning, you'll be eligible for the final dividend.
The dividend is also franked at 10% which equates to US 11.8 cents (AU 18 cents) per share.
Keep in mind though, when a company's shares trade ex-dividend, the share price tends to fall in proportion to the dividend paid out. However, this can vary depending on how the market is tracking for the day, as well as investor sentiment.
If you do manage to scoop up some CSL shares, a dividend payment of roughly AU$1.68 per share will land in your bank account on 5 October.
The details of the exact payment currency equivalent will be released on 9 September.
How has the CSL share price performed in 2022?
At the start of 2022, the CSL share price nosedived 17% to hit a 52-week low of $240.10 in mid-February.
However, the share quickly rebounded and traded around $270 for several months.
When the new financial year kicked off, CSL shares rose and have been hovering under the $300 mark.
For the calendar year, the biotech's share price is up 2%.
In comparison, the S&P/ASX 200 Health Care (ASX: XHJ) sector is down 5% over the same period.
CSL commands a market capitalisation of approximately $142.58 billion and has a dividend yield of 1.02%.
