The S&P/ASX 200 Index (ASX: XJO) has fought hard and is now in positive territory on Monday afternoon. At the time of writing, the benchmark index is up slightly to 7,261.5 points.

Four ASX shares that have failed to follow the market higher today are listed below. Here’s why these ASX shares are falling:

ANZ Group Holdings Ltd (ASX: ANZ)

The ANZ share price is down almost 4% to $23.58. This decline has been driven by the banking giant’s shares trading ex-dividend this morning for its upcoming dividend payment. Eligible shareholders can now look forward to receiving this fully franked 81 cents per share interim dividend in a touch over six weeks on 3 July.

Elders Ltd (ASX: ELD)

The Elders share price is down 13% to $7.24. This follows the release of a disappointing half-year result from the agribusiness company. Although Elders’ revenue was up 9% to $1.66 billion, its profit after tax slumped 47% to $48.8 million. This led to management cutting its interim dividend by 18% to 23 cents per share.

Nanosonics Ltd (ASX: NAN)

The Nanosonics share price is down 9% to $5.09. This appears to have been triggered by the surprise resignation of the infection prevention company’s CFO, McGregor Grant, on Friday after 12 years in the role. In addition, it is worth noting that a number of ASX medical device shares are falling on Monday.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is down 18% to $1.52. This follows news that the sports betting company has signed a deal to sell its US business to Fanatics Betting and Gaming for US$150 million (A$222 million). Investors appear disappointed with the price tag. Particularly given how this business was seen as the key driver of future growth.

The post Why ANZ, Elders, Nanosonics, and Pointsbet shares are falling today appeared first on The Motley Fool Australia.

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More reading

• Own Elders shares? Your dividend was just slashed by 18%
• Here’s why the Pointsbet share price is tumbling 17% on Monday
• Elders share price plummets as half-year profit dumps 46%
• Why is the ANZ share price sinking on Monday?
• Here are the 10 most shorted ASX shares

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 positions in and has recommended Nanosonics and PointsBet. The Motley Fool Australia has positions in and has recommended Nanosonics. The Motley Fool Australia has recommended Elders and PointsBet. 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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