Why BHP, EQ Resources, Lottery Corp, and Woodside shares are falling today

The S&P/ASX 200 Index (ASX: XJO) is having a mildly positive session on Thursday. In afternoon trade, the benchmark index is up 0.15% to 8,915.1 points.

Four ASX shares that are acting as a drag on the market today are listed below. Here’s why they are falling:

BHP Group Ltd (ASX: BHP)

The BHP share price is down almost 2% to $54.73. This has been driven by the mining giant’s shares going ex-dividend this morning for its interim dividend. When a share goes ex-dividend, it means the rights to the payout are now locked in and new buyers won’t be able to receive the dividend. Last month, BHP released its half-year results and declared a fully franked interim dividend of 73 US cents per share. This will be paid to eligible shareholders later this month on 26 March.

EQ Resources Ltd (ASX: EQR)

The EQ Resources share price is down 3% to 33 cents. The catalyst for this may have been a broker note out of Morgans. According to the note, the broker has downgraded the miner’s shares to a trim rating with a price target of 23 cents. It said: “Our valuation and target price have lifted from A$0.16 per share to A$0.23ps. Continued strength in the tungsten price, a most critical metal, could lead to a further increase in our target price. With the share price above our target price, we lower our rating to TRIM from Speculative Buy. Tungsten concentrate production at the start of this current March Quarter may have been affected by the Wet Season in north Queensland at Mt Carbine, and to some extent at Barruecopardo, Salamanca Province, Spain.”

Lottery Corporation Ltd (ASX: TLC)

The Lottery Corporation share price is down almost 2% to $5.30. This morning, this lottery company released an update on operational changes. Under the new model, Lottery Corporation will create three customer-facing business units. These are Lotteries, Digital, and Keno. The company’s CEO, Wayne Pickup, said: “We have a strong foundation and our strategy has served the Company well, but we can unlock more value. This new structure gives us the clarity and accountability to accelerate our evolution as a digital entertainment company, concentrate on local market growth and make faster, better decisions.”

Woodside Energy Group Ltd (ASX: WDS)

The Woodside share price is down 2.5% to $30.01. This has also been driven by the energy giant’s shares going ex-dividend this morning for its latest dividend. Last month, Woodside released its full-year results and declared a final dividend of 59 US cents per share. This brought its full-year fully franked dividend to US$1.12 per share or US$2.1 billion. Eligible shareholders can look forward to receiving the final dividend later this month on 27 March.

The post Why BHP, EQ Resources, Lottery Corp, and Woodside shares are falling today appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Woodside Energy Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended The Lottery Corporation. The Motley Fool Australia has recommended BHP Group and The Lottery Corporation. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.