ASX-listed Woodside Energy Group (AU:WDS) carries an attractive dividend yield of 7.46%, making it a top choice for income investors from the Australian market. The dividend yield also exceeds the sector average of 3.7%. The stock also ticks the box as a long-term value pick, with the potential for share price growth. On TipRanks, WDS carries a Moderate Buy rating, with an estimated upside of nearly 30%.
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Woodside Energy is a global oil and gas exploration company with operations in Australia, Mexico, and Trinidad and Tobago.
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How Often Does Woodside Energy Pay Dividends?
Woodside pays dividends twice a year, alongside its half-yearly and annual results. The company’s dividend policy aims to distribute at least 50% of its net profit after tax (NPAT), excluding one-time items, with a target payout range between 50% and 80%.
In its 2024 half-year results, the company announced a fully franked interim dividend of $0.69 per share. This equates to $1.31 billion, or about 80% of the underlying NPAT for the first half of 2024. However, compared to the interim payment in 2023, the dividend marks a 14% decline in 2024.
In terms of operations, Woodside expects production to be between 189 and 195 MMboe (million barrels of oil equivalent) in 2024. This marks an increase from the previous range of 185 to 195 MMboe. The company will release its fourth quarter report for 2024 on January 22.
Is Woodside Energy a Good Stock to Buy?
In 2024, WDS stock has fallen by over 25%, mainly due to the volatile energy prices. Moving ahead, analysts have rated the stock as Moderate Buy. According to TipRanks consensus, WDS stock has received six Buy, five Hold, and one Sell recommendations. The Woodside share price forecast is AU$32.34, implying a change of 28.3% from the current price level.
