The S&P/ASX 200 Index (ASX: XJO) has had a bit of a topsy-turvy start to the trading week so far this Monday. At the time of writing, the ASX 200 is down by 0.64% after spending time in both positive and negative territory already today. But let’s check out what the CSL Limited (ASX: CSL) share price is up to.
At the time of writing, CSL shares are trading for $254.12 each. That’s down around 1.62% so far.
So is there any good reason why CSL shares might be trailing the broader market so decisively today?
Well, as it happens, there is.
Today is a big day on the CSL shareholder calendar. It is the day this ASX 200 healthcare company trades ex-dividend for its upcoming interim payment. Last month, CSL delivered its half-year earnings report. Along wth a mixed-bag of results, this naturally included details about CSL’s next dividend payment.
This upcoming dividend will be worth US$1.04 per share for investors when it is paid out on 6 April. The final value in Australian dollars is yet to be determined. But it works out to be approximately $1.41 on today’s exchange rates. The dividend will come unfranked. At US$1.04 per share, it is also flat on last year’s interim dividend.
So the fact that this dividend has now gone ‘ex’ is probably at least partially why the CSL share price is showing weakness today. When a company trades ex-dividend, the value of the dividend payment in question leaves the company’s share price. That’s because, from today, no new CSL shareholders will be entitled to receive the company’s upcoming payment. This means the shares are effectively worth less today than they were on Friday.
CSL share price snapshot
Like many ASX 200 shares, CSL hasn’t had the easiest ride in 2022 so far. This healthcare giant has lost more than 14% year to date. However, the company is still up around 3.5% over the past 12 months, and up more than 102% over the past five years.
At the current CSL share price, the company has a market capitalisation of $124.7 billion, with a dividend yield of 1.14%.
The post Payday? Here’s why the CSL share price is sliding this morning… appeared first on The Motley Fool Australia.
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More reading
- 5 things to watch on the ASX 200 on Monday
- These were the best performing ASX 200 shares last week
- These were the worst performing ASX 200 shares last week
- Here are the top 10 ASX shares today
- Playing limbo… Magellan (ASX:MFG) share price hits 7-year low
Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended CSL Ltd. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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