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When did Flight Centre shares last pay a dividend?

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The Flight Centre Travel Group Ltd (ASX: FLT) share price is among the top performing S&P/ASX 200 Index (ASX: XJO) travel shares of 2022 so far. On top of that, Flight Centre’s most recent full-year dividend payout marked a new record for the company.

But there’s a catch. None of the ASX 200 travel majors has paid out a dividend since the onset of the COVID-19 pandemic.

At the time of writing, the Flight Centre share price is $17.13, 8% lower than at the start of 2022.

For comparison, the ASX 200 has slumped 8.5% since the beginning of this year.

Let’s take a closer look at what’s going on with the ASX 200 travel giant’s dividends.

It’s been a while since the market has heard dividend-related news from ASX 200 travel shares – Flight Centre included.

The last dividend paid out by the company was its final dividend in financial year 2019. That same year, the company posted record dividends ­– offering shareholders $3.07 per share.

The record offering comprised a 60 cent interim dividend, a 98-cent final dividend, and a $1.49 special dividend.

However, its financial year 2020 interim dividend – worth 40 cents – was cancelled in March 2020. The company hasn’t released word of future payouts since.  

Webjet Limited (ASX: WEB), Qantas Airways Limited (ASX: QAN), and Corporate Travel Management Ltd (ASX: CTD) also haven’t offered new dividends since financial year 2019.

That’s perhaps unsurprising, given none of the ASX 200 travel majors have posted a full-year profit since the pandemic took hold of the globe.

But that might be about to change.

Flight Centre recently told the market it expects its underlying earnings before interest, tax, depreciation, and amortisation (EBITDA) to break even over the six months ended 30 June 2022.

Of course, that leaves the company with a fair stretch to cover before it can boast a return to profit, but it appears to be a good start.

Source: Read More

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