The share prices of ASX 200 companies Transurban Group (ASX: TCL), DEXUS Property Group (ASX: DXS), and Mirvac Group (ASX: MGR) are plummeting today.
At the time of writing, they’ve fallen 1.25%, 2.59%, and 1.82% respectively.
For context, the S&P/ASX 200 Index (ASX: XJO) is currently up 0.1%.
So, what’s sent the three ASX 200 giants spiralling lower on Thursday? Let’s take a look.
What’s going on with some ASX 200 share prices today?
Many ASX 200 shares are trading ex-dividend on Thursday, including Transurban, DEXUS, and Mirvac.
That means, from today, any of the companies’ shares that swap hands won’t provide their buyer with the companies’ upcoming dividends.
Instead, the next dividend will be handed to the shares’ owner at the time of yesterday’s close.
For some stocks, that dividend represents a significant portion of its value.
For instance, the DEXUS share price closed yesterday trading at $11.38. It handed out a 28 cents unfranked dividend in February.
That means its dividend represented 2.46% of its share price at Wednesday’s close. Thus, likely as a result, its share price has fallen a similar amount today.
That’s because its dividend’s value is no longer built into that of its stock.
Transurban is handing its investors a 15 cent, unfranked dividend in February. Right now, the Transurban share price is $13.77.
Meanwhile, Mirvac has promised its shareholders a 5.1 cent, unfranked dividend to be paid in February. At the time of writing, the company’s stock is trading at $2.97.
The three popular ASX 200 companies’ shares aren’t the only ones suffering today. They are some of many stocks going ex-dividend on Thursday.
Charter Hall Group (ASX: CHC) and Shopping Centres Australasia Property Group Re Ltd (ASX: SCP) are also trading ex-dividend today. The value of their stock has slumped 0.49% and 2.46% respectively.
Meanwhile, the Goodman Group (ASX: GMG) share price is breaking the mould. It’s gaining 0.19% despite surpassing its ex-dividend date this morning.
The post Why are Transurban (ASX:TCL), Dexus, and Mirvac shares tumbling? appeared first on The Motley Fool Australia.
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Motley Fool contributor Brooke Cooper 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 owns and has recommended Shopping Centres Australasia Property Group. 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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