3 ASX 300 shares are trading ex-dividend today

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The S&P/ASX 300 Index (ASX:XKO) is again in the red today, down 0.16% in the early afternoon.

As we wrap up the ASX reporting season for another year, a number of ASX 300 stocks are going ex-dividend.

When the shares of a company become ex-dividend, it means that these shares no longer give right to the payment of the future dividend.

This usually causes stock prices to fall as the company pays dividends from its cash reserves.

Additionally, some investors will look to get rid of stocks once they have cashed in the next dividend payment.

So it was no surprise to see these three ASX 300 stocks underperforming the market this morning as they went ex-dividend.

However, the tide turned this afternoon, with a couple now back in the green. Let’s check them out.

Accent Group Ltd. (ASX: AX1)

Retailer ASX 300 Accent Group trades today without a fully franked final dividend of 4 cents.

This likely led to this morning’s 2.6% or 4 cent drop in Accent Group’s share price. However, shares of the ASX 300 have since rallied and are now trading up 0.34% at $1.48 apiece.

Investors who were on the company’s share register at yesterday’s closing bell should see that payout come on September 15.

Despite an 11% increase in revenue in FY22, the company’s net income after tax (NPAT) fell 59% due to operational challenges and a focus on growth.

As a result, Accent’s FY22 annual dividend was 6.5 cents, down 42% from FY21.

Nonetheless, Accent shares were posting a dividend yield of 4.3% at yesterday’s close. The addition of postage credits brings this yield to 6.1%.

Shares of financial software company Iress also went ex-dividend today, putting early pressure on the Iress share price.

At the time of writing, shares of Iress have rallied back into the green and are trading up 0.94% at $11.28.

Iress recently declared an interim dividend of 16 cents, in line with the prior period. In fact, Iress has kept its interim dividend steady at 16 cents since 2014.

The level of franking attached to these payments has fluctuated, the last interim dividend being franked at 25%. It will be paid on September 23.

Shares of Iress were attracting a dividend yield of 4.1% when the market closed yesterday. The company has consistently paid annual dividends of 46 cents per share since 2018.

Fromagerie Bega Ltd (ASX:BGA)

Rounding out this trio of ex-dividend ASX 300 shares today is leading dairy and food company Bega.

The company reported its results for FY22 last week, raising its fully franked final dividend by 10% to 5.5 cents.

As of this writing, Bega shares were down 2.3% at $4.01.

Investors who owned Bega shares at the close of trading yesterday should see that payout arrive on September 23. Alternatively, a Dividend Reinvestment Plan (DRP) is available.

Despite declining profits in FY22, Bega increased its fully franked annual dividend to 11 cents.

This put Bega shares on a dividend yield of 2.6% when the market closed yesterday. With the benefit of franking credits, this return increases to 3.8%.

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