What is dividend yield?

Dividend yield is the annual dividend per share divided by the share price, as a percentage. It tells you the income return on the shares, separate from any change in their price. A $0.30 dividend on a $5 share is a 6% yield.

What is gross dividend yield?

NZ dividends often carry imputation credits for company tax already paid. The gross yield adds those credits back, so a fully imputed dividend has a higher gross yield than the cash yield. It is useful for comparing after-tax income across investments.

Is a high yield always good?

Not necessarily. A very high yield can signal a falling share price or a dividend that may be cut. Yield is one measure; total return (income plus price growth) and the sustainability of the dividend matter too.

Dividend Yield Calculator

This New Zealand calculator works out the dividend yield and annual income from a share holding, including the gross yield once imputation credits are added back. Yield tells you the income return on the shares, separate from price changes. You enter the annual dividend, the share price and your number of shares, and the tool shows the cash yield, the gross yield and your dollar income.

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Annual dividend per share

Share price

Number of shares

Imputation

cash dividend yield

Gross yield (with credits)0%

Annual income$0

Cash yield is dividend divided by price. Gross yield adds imputation credits (28% company tax) back for the imputed portion, useful for comparing after-tax income. Yield is one measure; total return and dividend sustainability matter too. Estimate only, not advice.

How it works

The calculator divides the annual dividend per share by the share price to get the cash yield, and multiplies the dividend by your shares for the income. For the gross yield, it grosses up the imputed portion of the dividend for the 28% company tax already paid, since those credits reduce the tax you pay on the dividend. The gross yield lets you compare a dividend's true value against fully taxed income like interest.

Worked example

A $0.30 dividend on a $5.00 share is a 6% cash yield. If fully imputed, the gross yield is about 8.3%, because the imputation credits are worth extra to you. On 2,000 shares the cash income is $600 a year.

Related calculators

Dividend Calculator: dividend tax.
Dividend Reinvestment Calculator: reinvesting.
Passive Income Target Calculator: income goals.
Managed Fund Return Calculator: fund growth.

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