Hoping to bag the next Evolution Mining dividend? Here’s what to do – The Motley Fool Australia

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Its been an awful start to the trading week for the Evolution Mining Ltd (ASX: EVN) share price this Monday. At the time of writing, Evolution shares are down a nasty 4.4% at $2.39 each.

Thats a far worse performance than that of the S&P/ASX 200 Index (ASX: XJO), which has lost a less severe but still depressing 2.07% at present.

This drop for gold miner Evolution Mining comes despite some positive conditions for gold, which my Fool colleague went through this morning.

Earlier this month, we covered Evolutions full-year earnings for FY2022.

As we went through at the time, these earnings saw Evolution post total revenues of $2.06 billion, up 11% year on year.

But a 6% slide in statutory net profit after tax (NPAT) to $323.3 million and a 2% drop in earnings before interest, taxes, depreciation, and amortisation (EBITDA) to $898.814 million didnt exactly inspire investors.

Evolution shares dropped 1.56% on the day the earnings were posted, and the company is now down around 7% since.

But lets talk about Evolutions upcoming dividend. So the gold miner declared a final and fully franked dividend of 3 cents per share for FY22.

That was consistent with the companys last interim dividend. But a 40% drop from FY21s final dividend of 5 cents per share.

Evolution shares will trade ex-dividend for this payment on 30 August (tomorrow). This means that any investor wishing to receive this dividend must own Evolution shares by the end of this trading day.

When the shares trade ex-div tomorrow, it will lock any new investors out of this dividend. As such, we can expect the typical ex-dividend share price drop during tomorrows trading session.

Investors will then have to wait until 30 September to receive the dividend in their bank accounts. Evolution shares are not currently operating a dividend reinvestment plan (DRP), so Evolution shareholders have no choice but to receive this payment in cash.

The Evolution Mining share price today has a fully franked dividend yield of 2.51%, which includes this upcoming payment.

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Hoping to bag the next Evolution Mining dividend? Here's what to do - The Motley Fool Australia