The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a decent gain. In afternoon trade, the benchmark index is up 0.4% to 7,285 points.

Four ASX shares that have failed to climb with the market today are listed below. Here’s why they are dropping:

Ampol Ltd (ASX: ALD)

The Ampol share price is down over 5% to $31.22. The catalyst for this has been the fuel retailer’s shares going ex-dividend this morning for its fully franked $1.55 per share final dividend for FY 2022. Eligible shareholders can now look forward to receiving this dividend at the end of the month on 30 March.

Arafura Rare Earths Ltd (ASX: ARU)

The Arafura share price is down 9% to 55.5 cents. This appears to have been driven by comments out of Tesla at its investor day. The electric vehicle giant revealed that it plans to drop the use of rare earths in its future electric vehicle models due to health and environmental risks that come with mining the critical minerals.

GQG Partners Inc (ASX: GQG)

The GQG share price is down 3% to $1.44. This may have been caused by reports that GQG is investing heavily in the Adani empire. According to the AFR, the company has poured $2.8 billion in four Adani companies. It believes an activist short seller attack has created significant value for investors.

Retail Food Group Ltd (ASX: RFG)

The Retail Food share price is down 7% to 7.9 cents. This morning, this embattled quick service restaurant operator announced firm commitments to raise $24.9 million via a share placement to sophisticated and institutional investors. These funds will be raised at 8 cents per share, with the proceeds used to reset its balance sheet and support growth opportunities.

The post Why Ampol, Arafura, GQG, and Retail Food shares are dropping today appeared first on The Motley Fool Australia.

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More reading

• Arafura share price plummets. Broker tips 28% upside
• 3 ASX 200 shares trading ex-dividend on Friday
• 5 things to watch on the ASX 200 on Friday
• Why is the Arafura share price storming 7% higher?
• 7 ASX 200 shares with ex-dividend dates next week

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. 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 Scott Phillips.

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