Hoping to bag the Seek (ASX:SEK) dividend? Here’s what you need to know


The Seek Limited (ASX: SEK) share price has edged higher since announcing its FY22 half year results in mid-February.

The job listings giant delivered a robust earnings growth along with a bumper dividend which pleased investors.

At the time of writing, Seek shares are trading at $30.76, down 0.10%.

It’s worth noting that following the company’s financial scorecard, Seek shares are up more than 10%.

How did Seek perform in H1 FY22?

In the half year report for the 2022 financial year, Seek reported a strong performance across key metrics.

In summary, revenue increased by 59% to $517.2 million driven by record ad volumes in Australia and New Zealand. The company also benefited from unique hirers, on average, which surged by 30% over the previous corresponding period.

Net profit after tax (NPAT) on total operations soared by 32% from $66.8 million to 88.1 million.

At the end of the period, the company finished with total debt facilities of $1.75 billion and $569 million of cash and undrawn facilities.

The Board declared a fully franked interim dividend of 23 cents per share. The prior dividend was 20 cents per share which was in May 2021 – a one-off dividend following receipt of Zhaopin transaction funds.

Management noted that the latest dividend equates to a payout ratio of 75% of cash NPAT less capital expenditure. This is in line with Seek’s capital management framework.

Seek will pay the interim dividend to eligible shareholders approximately 2 weeks away on 7 April.

To be eligible for the latest dividend, you’ll need to own Seek shares before the ex-dividend date on 23 March. This means if you want to secure the dividend, you will need to purchase Seek shares no later than today.

In case you are wondering, the company is not offering a dividend reinvestment plan (DRP) to shareholders.

Source: Read More

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