The Seven Group Holdings Ltd (ASX: SVW) share price is heading south on Tuesday as it trades ex-dividend.
At the time of writing, the investment company’s shares are swapping hands for $20.64, down 1.39%.
Below we take a closer look at Seven Group’s latest dividend and when shareholders can expect payment.
Shareholders set eyes on the Seven Group interim dividend
Following the company’s half year results, investors are eyeing Seven Group shares as they trade ex-dividend today.
Typically, one business day before the record date, the ex-dividend date is when investors must have purchased shares. If the investor did not buy Seven Group shares before this date, the dividend will go to the seller.
Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out. This is because investors tend to sell off the company’s shares after securing the dividend.
When can shareholders expect to be paid?
For those eligible for Seven Group’s interim dividend, shareholders will receive a payment of 23 cents per share on 6 May. The dividend is fully franked which means investors will receive tax credits to go toward their next tax bill.
The board opted to maintain the interim dividend to possibly preserve cash for investment opportunities.
Seven Group share price summary
Since the beginning of 2022, Seven Group shares are around 4.4% in the red.
The company’s shares reached a 52-week high of $24.55 in August 2021, before plummeting over the following weeks. From there, its shares have continued to move in circles.
Based on today’s price, Seven Group commands a market capitalisation of roughly $7.5 billion and has a trailing dividend yield of 2.23%.
The post Why is the Seven Group share price sliding today? appeared first on The Motley Fool Australia.
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More reading
- If you’re keen to bag the Seven Group dividend, read this
- This lagging ASX sector could be next to outperform
- Here’s a look at some ASX shares with ex-dividend dates coming up in April
- Is this the secret behind ASX shares that outperform?
Motley Fool contributor Aaron Teboneras 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 Bruce Jackson.
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