Sul Dividend, SUL Dividend Dates, SUL Dividend Yield

Super Retail Group has a solid history of growing its strong dividend. Their current yield of 10.33% has been very attractive for investors in the low-rate environment. But is this sustainable for SUL? SUL Dividend Report.

SUL Dividend Snapshot

Sul Dividend, SUL Dividend Dates, SUL Dividend Yield
DPS (Trailing 12-Month)$0.525
Gross DPS (Trailing 12-Month)$0.75
Dividend yield7.2%
Gross yield10.33%
Payout Ratio65%
DRPYes
DRP DiscountNo

SUL Dividend Dates 2021

Sul Dividend, SUL Dividend Dates, SUL Dividend Yield
SummaryInterim DividendFinal Dividend
Per-share33c55c
Declaration date17 February 2021 18 August 2021
Ex-div date25 February 202123 August 2021
Pay date01 April 202107 October 2021

SUL Dividend History Graph

SUL typically announces a dividend with the release of its half-year results in February and full-year results in August as seen in their financial calendar. SUL Dividends are typically paid twice a year, in April (interim dividend) and October (final dividend).

SUL has paid a dividend every year since 2005. Including 2020 during the COVID-19 recessionary period. In 2020 we did see them pay only an Interim dividend. All dividends have been fully franked. They also offer a Dividend Reinvestment Plan (DRP).

SUL Yield Comparison

SUL’s current gross dividend yield is 10.33%. This is well above the market average.

The current SUL yield of 10.33% far exceeds the Average Term Deposit rate of 0.4%

Sul Dividend, SUL Dividend Dates, SUL Dividend Yield

Net SUL Dividend Yields Over Time

We can see SUL’s net dividend yield has been relatively stable, excluding 2020 where we saw the yield spike as the share price dropped, the yield then reduced as dividends were cut. Super Retail Group’s net yield has averaged 5%. From this, we can SUL’s current net yield of 7.2% is well above its historic average.

Sul Dividend, SUL Dividend Dates, SUL Dividend Yield

SUL Dividend Payout Ratio

Sul Dividend, SUL Dividend Dates, SUL Dividend Yield

A companies dividend payout ratio is the ratio of the total dividend sum paid out relative to the net income of the company. It is the percentage of earnings paid to shareholders in dividends.

Based on current averages SUL’s payout ratio is 66%, which we expect to decrease in the coming years to a ratio of 63%.

In FY21 we saw SUL pay out an interim and final dividend totalling 88 cents per share. Both were fully franked and repsented a pay-out ratio of 65%.

The dividend totalled a cash payment of $124.2 million.

Robust cashflow generation supporting fully franked final dividend of 55 cents per share, bringing the full year dividend to 88 cents per share

SUL Dividend Franking Credits

Super Retail Group has a strong franking balance of $231.2 Million, the group is well equipped to continue paying fully franked dividends. The payment of FY21 dividends resulted in the use of $53.2 Million in franking credits.

FY21FY20
231.2 Million157.2 Million

SUL Share Price

SUL Dividend Policy

SUL targets a payout ratio of 65%. Although SUL has not publicized their dividend policy. Their historic payout ratio is as follows:

YearPay-Out Ratio
202165%
202025%
201964.68%
201866.48%
201767.50%

From these results the groups seems to be targetting a payout ratio of 65%.

When will my SUL Dividends be Paid?

Sul Dividend, SUL Dividend Dates, SUL Dividend Yield

The group typically announces a dividend with the release of its half-year results in February and full-year results in August.  Dividends are typically paid twice a year, in April (interim dividend) and October (final dividend).  Payment dates are listed on the financial calendar

SUL Dividend Reinvestment Plan (DRIP)

Sul Dividend, SUL Dividend Dates, SUL Dividend Yield

A DRIP or dividend reinvestment plan allows investors to automatically reinvest their dividends for additional shares in the company. Using this method, the investor will still receive the franking credit and will still be taxed on the cash value of their dividend. 

The simplest way to elect to participate in a company’s DRIP is through the related share registry (i.e. Computershare or Link Market Services).

  • In Computershare it’s as simple as going ‘my profile’- ‘Reinvestment plans’ and selecting the company and electing to participate in full or partially. That is either the entire amount or a partial amount of your dividend is reinvested.
  • On Link you simply click view details of the company of interest and update it in the ‘payments and tax’ section.

For more information check out our ASX DRIP VS NON-DRIP Guide

SUL Dividend History

DividendFrankingEx-dividend datePayment date
55¢100%23 Aug 20217 Oct 2021
33¢100%25 Feb 20211 Apr 2021
19.5¢100%1 Sep 20202 Oct 2020
28.5¢100%23 Aug 201926 Sep 2019
21.5¢100%22 Feb 201928 Mar 2019
27.5¢100%29 Aug 20182 Oct 2018
21.5¢100%28 Feb 20183 Apr 2018
25¢100%4 Sep 20176 Oct 2017
21.5¢100%6 Mar 20177 Apr 2017
21.5¢100%5 Sep 20167 Oct 2016
20¢100%4 Mar 20168 Apr 2016
21.5¢100%28 Aug 20152 Oct 2015
18.5¢100%26 Feb 20152 Apr 2015
21.5¢100%28 Aug 20142 Oct 2014
18.5¢100%25 Feb 20143 Apr 2014
21¢100%26 Aug 20132 Oct 2013
17¢100%25 Feb 20133 Apr 2013
19¢100%27 Aug 20123 Oct 2012
13¢100%27 Feb 20123 Apr 2012
17.5¢100%23 Aug 201126 Sep 2011
11.5¢100%28 Feb 20115 Apr 2011
13¢100%30 Aug 20101 Oct 2010
8.5¢100%23 Feb 201031 Mar 2010
11.5¢100%21 Sep 200920 Oct 2009
6.5¢100%2 Mar 200931 Mar 2009
7.5¢100%16 Sep 200814 Oct 2008
5.5¢100%4 Mar 20082 Apr 2008
6.5¢100%12 Sep 200710 Oct 2007
100%6 Mar 20074 Apr 2007
100%13 Sep 200611 Oct 2006
100%7 Mar 20065 Apr 2006
4.5¢100%14 Sep 200512 Oct 2005
100%24 Feb 200524 Mar 2005
Sul Dividend, SUL Dividend Dates, SUL Dividend Yield
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