With so many shares to choose from on the ASX, it can be hard to decide which ones to buy. The good news is that brokers across the country are doing a lot of the hard work for you.

Three top ASX shares leading brokers have named as buys this week are listed below. Here’s why they are bullish on them:

Accent Group Ltd (ASX: AX1)

According to a note out of Morgans, its analysts have upgraded this footwear retailer’s shares to an add rating with an improved price target of $2.00. The broker made the move following a positive start to FY 2023 from Accent. It highlights that customer activity is showing no signs of a pullback so far and demand for new products is running strong. The Accent share price is trading at $1.69 on Monday afternoon.

Allkem Ltd (ASX: AKE)

A note out of Macquarie reveals that its analysts have retained their outperform rating and lifted their price target on this lithium miner’s shares by almost a third to $21.00. Macquarie has become even more bullish on Allkem after lifting its lithium price forecasts in response to strong spot prices and tight supply. This has led to major upgrades to its earnings estimates for Allkem over the next few years. The Allkem share price is fetching $12.50 on Monday.

Stockland Corporation Ltd (ASX: SGP)

Analysts at Goldman Sachs have retained their buy rating and lifted their price target on this property company’s shares to $4.50. The broker highlights that Stockland recently delivered a solid full year result against a challenging backdrop. And while the broker acknowledges concerns surrounding the softening residential outlook, it feels this has been factored into its share price. Goldman also highlights that the company is progressing on its recently refreshed corporate strategy and expects this to support its growth in the coming years. The Stockland share price is trading at $3.64 today.

The post Leading brokers name 3 ASX shares to buy today appeared first on The Motley Fool Australia.

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More reading

• Why these ASX lithium shares are outperforming the market today
• Could ASX battery minerals shares be in for a boost next month?
• 2 excellent ASX growth shares that analysts say are buys
• Why Accent, Cochlear, Newcrest, and Santos shares are charging higher today
• Could Porsche’s new test run threaten the outlook for ASX lithium shares?

Motley Fool contributor James Mickleboro has positions in Allkem Limited. 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 recommended Accent Group. 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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It’s been a bit of a depressing start to the trading week for ASX shares. So far this Monday, the S&P/ASX 200 Index (ASX: XJO) has slipped by a notable 1.03% to back under 7,050 points.

But for the BetaShares NASDAQ 100 ETF (ASX: NDQ), the drop has been even worse.

The US-focused exchange-traded fund (ETF) has lost a nasty 1.92% so far on Monday and is currently trading at $29.55 a unit.

So what’s going on here that might explain why this ETF is underperforming the ASX 200 by almost 1% today?

Well, for starters, unlike almost every share on the ASX, the BetaShares NASDAQ 100 ETF has no correlation whatsoever to the Australian share market.

That’s because it’s an ETF that tracks the NASDAQ-100 Index (NASDAQ: NDX) in the United States, which naturally only comprises shares listed on America’s NASDAQ stock exchange. So no ASX shares in this ETF.

So why then is this ETF plunging in value so dramatically today?

Why is the BetaShares NASDAQ ETF starting the week off so badly?

Well, to answer that, let’s check out the NASDAQ 100 Index itself. On Friday night (our time), the NASDAQ 100 fell a hefty 1.95% to 13,242.9 points.

The NASDAQ’s largest holdings led these falls. Take Apple Inc (NASDAQ: AAPL). The iPhone maker lost 1.51% last Friday to US$171.52 a share.

Microsoft Corporation (NASDAQ: MSFT) lost 1.39% to US$286.15. Amazon.com Inc (NASDAQ: AMZN) fell by 2.86% to US$138.23, while Tesla Inc (NASDAQ: TSLA) dropped 2.05% to US$890.

Those companies are by far the largest listing on the NASDAQ 100 and, therefore, in the NDQ ETF. In fact, on the latest numbers, Apple accounted for a meaty 13.6% of NDQ’s entire portfolio weighting. Microsoft is responsible for a further 10.5%, while Amazon and Tesla add 7% and 4.5%, respectively.

So we can safely say that wherever these companies go, the BetaShares NASDAQ 100 ETF generally follows.

Given the performance of the NASDAQ 100 Index in the US’s last trading session, as well as the performances of NDQ’s top companies, it’s perhaps no surprise that this ETF is having such a tough time on the ASX boards today.

But longer-term investors don’t have too much to complain about. As of 31 July, the BetaShares NASDAQ 100 ETF has averaged an annual return of 20.69% per annum over the past five years. This ETF charges a management fee of 0.48% per annum.

The post Why is the BetaShares NASDAQ 100 ETF having such an awful start to the week? appeared first on The Motley Fool Australia.

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More reading

• The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks?
• 3 ASX 200 shares trading ex-dividend today
• 3 tips for surviving a recession, according to Warren Buffett
• Janison share price slides as net loss after tax falls by triple digits
• Why these ASX lithium shares are outperforming the market today

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Motley Fool contributor Sebastian Bowen has positions in Amazon, Apple, Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Amazon, Apple, BETANASDAQ ETF UNITS, Microsoft, and Tesla. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has positions in and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Amazon and Apple. 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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The Fortescue Metals Group Limited (ASX: FMG) share price is rangebound today on no news. At the time of writing, Fortescue shares are less than 1% higher at $19.20.

Meanwhile, iron ore is flat at USD$104/T, having extended a reversal period that started on 1 August.

Returns for both are seen on the chart below for the previous 12 months.

What’s up with the Fortescue share price?

After market close on Friday, Fortescue signed an agreement with the Government of Gabon. This was done through its 80% owned company, Ivindo Iron. 

Fortescue’s signing follows on from agreements made between the company and the Gabonese Government in 2021.

The pair agreed to develop the Belinga Iron Ore Project, located in the Gabonese Republic.

Fortescue now expects to invest approximately US$90 million over 3 years for exploration works at the site. Initially, works will comprise feasibility works and logistical solutions for the project.

Meanwhile, the price of iron ore continues to soften and has retreated to levels of December 2021.

One key driver for the downside is an “extended downturn” in demand for industrial inputs from China, Trading Economics says.

“Demand has also been suppressed by a worsening macroeconomic backdrop for the Chinese economy, with the latest data showing concerning figures for industrial production and retail sales that added to woes regarding the financial stability of the country’s property developers,” it added.

Whilst the news from Fortescue over the weekend appears to be positive, the share price looks to be offset by troubles in the iron ore price today.

It remains more than 5% down over the past 12 months, or 1% down this year to date.

The post What’s with the Fortescue share price on Monday? appeared first on The Motley Fool Australia.

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More reading

• Could this be set to boost ASX 200 iron ore shares?
• Why the Fortescue share price is on watch next week
• Worried about the iron ore price? Why the need for it ‘ain’t going anywhere’: broker
• 1 factor that could drag on Fortescue Future Industries’ green dream
• Can shareholders have bigger dividends AND more spending on Fortescue Future Industries?

Motley Fool contributor Zach Bristow 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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Investors considering Telstra Corporation Ltd (ASX: TLS) shares should keep in mind what’s going on with the wider industry, which includes peers like TPG Telecom Ltd (ASX: TPG).

It’s worth asking whether Telstra is the best telco in the sector?

It’s certainly the biggest, with a current market capitalisation of $47.6 billion according to the ASX.

But, let’s have a look at the growth rates of both businesses.

Telstra versus TPG

First, it’s important to keep in mind that Telstra reported its result for a full 12 months to 30 June 2022. But, TPG’s recent result was for the six months to 30 June 2022.

Telstra reported that its total income declined 4.7% to $22 billion. TPG’s half-year service revenue increased by 0.7% to $2.175 billion. It benefited from a larger mobile subscriber base, which is expected to help in the second half.

TPG reported that it is seeing “strong” mobile momentum, with a 135,000 net increase of mobile subscribers. Telstra said that it added 155,000 net retail postpaid handheld services and 218,000 wholesale services.

Telstra’s mobile average revenue per user (ARPU) for postpaid handheld went up 2.9%, while TPG’s ARPU for mobile went up 1%.

In terms of earnings before interest, tax, depreciation, and amortisation (EBITDA), TPG’s half-year EBITDA dropped 5.3% to $837 million, though excluding $35 million of restructuring costs, it was $872 million. In FY22 guidance terms, Telstra’s underlying EBITDA rose 8.4% with mobile EBITDA growing 21.2%.

Interestingly, both Telstra and TPG reported dividend growth. TPG’s board grew the interim dividend by 12.5% to 9 cents per share. Telstra decided to increase its final dividend by 6.25% to 8.5 cents per share – that was the first increase in seven years for owners of Telstra shares.

Regional network sharing agreement

Earlier this year, the two telecommunication businesses announced an agreement to work together.

Telstra said that, subject to clearance by the ACCC, this will be a win for regional Australia, providing more choice and additional capacity. Telstra also pointed out that it has committed $616 million to secure the maximum possible amount of low band spectrum to maintain its “leading mobile network for customers, especially in regional and rural Australia”.

For TPG, the proposed network sharing deal will boost its mobile coverage to 98.8% of the population and “deliver a step change in mobile competition across regional Australia”. As a result, customers will be able to access regional 5G services faster than otherwise would have been achievable.

Outlook

TPG said it expects earnings momentum to accelerate in the second half of FY2, with the full run rate benefit of a higher mobile subscriber base, targeted strategies, and tactical pricing to support fixed product margins. It’s on track to deliver merger synergies of between $125 million to $150 million in 2022, a year earlier than expected.

With Telstra’s T25 strategy, it’s aiming to grow its earnings per share (EPS) by the high-teens between FY21 to FY25. In FY23, Telstra is expecting continuing underlying growth, with underlying EBITDA guided to be between $7.8 billion to $8 billion in FY23, which could be a boost for Telstra shares. It seems Telstra is starting to turn things around.

The post Looking to buy Telstra shares? Here’s how the telco’s results stack up against TPG’s appeared first on The Motley Fool Australia.

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More reading

• ASX reporting season weekly wrap: Winners and losers
• Why AGL, Fisher & Paykel, Inghams, and TPG shares are sinking today
• Here are the 3 most heavily traded ASX 200 shares on Friday
• TPG share price tumbles 9% on first half results
• Earnings preview: Here’s which ASX shares are reporting today

Motley Fool contributor Tristan Harrison 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 positions in and has recommended Telstra Corporation Limited. The Motley Fool Australia has recommended TPG Telecom Limited. 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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The Zip Co Ltd (ASX: ZIP) share price continues to retrace on Monday following its heavy sell-off last week.

At the time of writing, the buy now, pay later (BNPL) company’s shares are swapping hands at 99 cents, down 4.81%.

This comes after the share dropped more than 20% last week as investors took profit off the table.

It is worth noting that Zip shares accelerated from a multi-year low of 43.5 cents on 23 June to a high of $1.52 on 28 July, representing a 250% gain.

Let’s look at what’s causing the BNPL’s shares to stall again today.

Why are Zip shares tanking?

The Zip share price is coming under selling pressure following negative sentiment across the broader sector.

To compare, the S&P/ASX 200 Financials Index (ASX: XFJ) is recording a 1.3% loss today.

Re-emerging fear about more aggressive interest rate hikes from the Federal Reserve appears to be weighing down investor confidence. This is having a rampant effect on the Aussie stock market.

The Dow Jones Industrial Average futures is down by 126 points, or 0.37%.

The S&P 500 and Nasdaq 100 futures are also in the red by 0.39% and 0.47%, respectively.

It could be a volatile week ahead on the back of Fed Reserve chair Jerome Powell’s latest comments on inflation.

Similarly, other shares in BNPL companies are heading south today.

The Block Inc (ASX: SQ2) share price is down 6.58%, fetching $107.33.

On the other hand, shares in Sezzle Inc (ASX: SZL) are backtracking 6.29% to 74.5 cents.

Zip share price snapshot

In early 2021, the Zip share price reached an all-time high of $14.53.

It was also valued more than popular retail chain JB Hi-Fi Limited (ASX: JBH).

However, those days seem like a distant memory as the BNPL provider reversed its historic gains. Now it commands a market capitalisation of around $715.50 million, well under the $4.84 billion that JB Hi-FI is currently worth.

Year to date, Zip shares are down by roughly 77%.

The post Why is the Zip share price sinking 5% on Monday? appeared first on The Motley Fool Australia.

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More reading

• Why is the Block share price tumbling 6% today?
• These are the 10 most shorted ASX shares
• How does Zip’s ‘Operation Blue Sky’ stack up against Block’s battening down of the hatches?
• Why is the Zip share price behaving so strangely on the ASX today?
• Here are the top 10 ASX 200 shares today

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 positions in and has recommended Block, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has positions in and has recommended Block, Inc. 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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The National Australia Bank Ltd (ASX: NAB) share price is in the red today, alongside the broader market. However, there’s plenty to get excited about when it comes to the ‘big four’ bank – namely, its 4.57% dividend yield.

NAB shares are currently swapping hands for $30.52 apiece, 1.29% lower than their previous close.

For context, the S&P/ASX 200 Index (ASX: XJO) has slumped 1% so far today.

So, how does the NAB’s dividend yield stack up against other ASX 200 bank shares? Let’s take a look.

NAB shares offer 4.6% yield. Does it stack up?

NAB shares currently offer a decent dividend yield of around 4.6%, having handed investors $1.40 in dividends per share over the last 12 months. However, some of its prominent peers boast far greater offerings. Indeed, NAB’s dividend yield is the second smallest of all the ‘big four’ banks right now.

It only tops that of Commonwealth Bank of Australia (ASX: CBA). The banking giant’s dividend yield comes in at around 3.9%.

Shares in Australia and New Zealand Banking Group Ltd (ASX: ANZ), meanwhile, boast a near-6.3% dividend yield while those in Westpac Banking Corp (ASX: WBC) offer a yield of around 5.5%.

Looking beyond the ‘big four’, banking giant Macquarie Group Ltd (ASX: MQG) has a decent but uncompetitive dividend yield of approximately 2.3%.

Some of the ASX 200’s smaller bank shares are also outperforming NAB when it comes to dividends.

Shares in $5.3 billion regional bank Bendigo and Adelaide Bank Ltd (ASX: BEN) are currently trading with a yield of around 5.8%. Meanwhile, those of the $4.6 billion Bank of Queensland Ltd (ASX: BOQ) offer an approximate 6.2% dividend yield.

However, NAB has been tipped to grow its dividends over the medium term.

Goldman Sachs believes the bank will pay out $1.50 per share in financial year 2022, as my Fool colleague James reports. Presumably, the broker is tipping NAB’s final dividend to come to 77 cents.

And the broker sees even brighter skies ahead for financial year 2023, tipping the bank to pay $1.70 per share in dividends for the period.

The post The NAB share price is trading on a 4.6% dividend yield right now. How does this compare to other banks? appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares trading ex-dividend today
• 3 tips for surviving a recession, according to Warren Buffett
• Janison share price slides as net loss after tax falls by triple digits
• Why these ASX lithium shares are outperforming the market today
• Could the BHP share price be set to benefit from ‘China reopening’?

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 positions in and has recommended Goldman Sachs. The Motley Fool Australia has positions in and has recommended Bendigo and Adelaide Bank Limited. The Motley Fool Australia has recommended Macquarie Group Limited and Westpac Banking Corporation. 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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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and dropped deep into the red. At the time of writing, the benchmark index is down 1% to 7,043.4 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are sinking:

Adairs Ltd (ASX: ADH)

The Adairs share price is down 10% to $2.28. Investors have been selling this homewares retailer’s shares following the release of a disappointing full year result. Although Adairs reported a 12.9% increase in sales to a record $564.5 million, this couldn’t stop it from posting a 29.6% decline in net profit after tax. Management advised that its margins were impacted by higher supply chain costs and greater promotional activity.

Adbri Ltd (ASX: ABC)

The Adbri share price is down 17% to $2.21. This has been driven by the building materials company’s half year results release. Adbri reported an 8% increase in half year revenue but a 15% decline in statutory net profit after tax to $48.1 million. This was driven partly by extreme wet weather and higher supply chain costs.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price has sunk 11% to $12.83. The catalyst for this has been the struggling fund manager’s shares trading ex-dividend this morning for its final dividend of FY 2022. Eligible shareholders can now look forward to receiving this 68.9 cents per share dividend next month on 6 September.

Reliance Worldwide Corporation Ltd (ASX: RWC)

The Reliance Worldwide share price is down 7% to $4.19. This morning this plumbing parts company released its full year results and reported a 17% increase in sales to US$1.17 billion but a 3% decline in net profit after tax to US$137.4 million. The latter was a touch short of consensus estimates.

The post Why Adairs, Adbri, Magellan, and Reliance Worldwide shares are sinking appeared first on The Motley Fool Australia.

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More reading

• 3 ASX 200 shares trading ex-dividend today
• Why is the Magellan share price slumping 10% today?
• Adairs share price sinks 4% despite record full-year sales
• Adbri share price tumbles 12% following a drop in profits
• Reliance Worldwide share price slumps 3% on ‘year of significant operational challenges’

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 ADAIRS FPO and Reliance Worldwide Corporation Limited. The Motley Fool Australia has positions in and has recommended ADAIRS FPO. The Motley Fool Australia has recommended Reliance Worldwide Corporation Limited. 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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Three stocks listed in the All Ordinaries Index (ASX: XAO) are making bold moves today, hitting new highs.

This may be surprising news as the All Ords is down 0.79% at the time of writing, putting it in the middle of its 52-week range. Meanwhile, the S&P/ASX 200 Index (ASX: XJO) is also trading 0.76% lower.

So let’s check which companies made new highs on Monday.

NIB Holdings Limited (ASX: NHF)

The NIB share price is up 6.95% at the time of writing at $7.775 per share after hitting a 52-week high of $7.79 earlier today. The health insurance fund posted its earnings for FY22 this morning, with underlying operating profit rising 14.8%. It also announced a fully franked dividend of 11 cents per share.

Other highlights from the company’s earnings report included group underlying revenue growing 7.2% year-over-year (YoY) to $2.8 billion and a reduction in its net profit after tax (NPAT). It fell 16.6% to $133.8 million, with the company citing volatility in investment markets as the reason for the contraction.

APM Human Services International Pty (ASX: APM)

Shares in the global human services provider are currently trading for $3.45 after hitting an all-time high of $3.55 this morning. There have been no announcements from the company today.

In fact, its most recent news came on Friday last week after the company announced 275,930,211 fully paid shares will be released from voluntary escrow on 29 August. The shares will be released to Madison Dearborn Capital Partners and their associates for a value of $962 million. That’s around a third of APM’s current market capitalisation of $3.16 billion.

Mader Group Ltd (ASX: MAD)

Shares in the global infrastructure maintenance provider hit an all-time high of $3.33 each this morning. They’ve since settled at $3.15 a share at the time of writing, up 2.61%. Again, there was no news from the company today.

The Mader Group made its last announcement to the market in July, noting it had beaten its previous market guidance. The company expected to beat its revenue guidance by 9%, delivering a total of $402.1 million in unaudited revenue. Audited results for FY22 are expected on Tuesday this week.

The post 3 ASX All Ords shares cracking new highs on Monday appeared first on The Motley Fool Australia.

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More reading

• Why EML, Nearmap, NIB, and Nick Scali shares are charging higher
• NIB share price gains 6% despite net profit drop in FY22
• 5 things to watch on the ASX 200 on Monday
• Here are the top 10 ASX 200 shares today
• Is this why the NIB share price is lagging Medibank on Friday?

Motley Fool contributor Matthew Farley 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 recommended NIB Holdings Limited. 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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The S&P/ASX 200 Index (ASX: XJO) looks set to start the week with a disappointing decline. In afternoon trade, the benchmark index is down 0.95% to 7,047.8 points.

Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:

EML Payments Ltd (ASX: EML)

The EML Payments share price is up 9% to $1.16. Investors have been buying this payments company’s shares following the release of its full year results. EML delivered a better than expected profit result and announced a small share buyback. This appears to have led to short sellers closing positions in a hurry.

Nearmap Ltd (ASX: NEA)

The Nearmap share price is up over 5% to $2.07. This morning this aerial imagery company announced that it has accepted a takeover approach. The Nearmap board is unanimously recommending that shareholders vote in favour of Thoma Bravo’s $2.10 cash per share offer. This is in the absence of a superior proposal and subject to the independent expert’s report.

NIB Holdings Limited (ASX: NHF)

The NIB share price is up over 7% to $7.81. The catalyst for this has been the release of the private health insurer’s full year results for FY 2022. NIB reported a 7.2% increase in revenue to $2.8 billion but a 16.6% decline in net profit to $133.8 million. The latter, which was driven by investment losses, was slightly ahead of consensus estimates.

Nick Scali Limited (ASX: NCK)

The Nick Scali share price is up 3% to $10.32. Investors have been buying this furniture retailer’s shares after its full year results impressed the market. Despite the cost of living crisis, the retailer delivered an 18.2% increase in revenue to $441 million. And while margin pressures led to its underlying profit falling 4.9% to $80.2 million, this didn’t stop the company from increasing its dividend in FY 2022.

The post Why EML, Nearmap, NIB, and Nick Scali shares are charging higher appeared first on The Motley Fool Australia.

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More reading

• Nick Scali share price climbs as final dividend jumps 40% for FY 2022
• EML share price leaps 11% on results and share buyback
• Nearmap share price jumps 5% on takeover update
• NIB share price gains 6% despite net profit drop in FY22
• These 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 EML Payments and Nearmap Ltd. The Motley Fool Australia has positions in and has recommended EML Payments and Nearmap Ltd. The Motley Fool Australia has recommended NIB Holdings Limited. 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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The S&P/ASX 200 Index (ASX: XJO) is having a rough start to the week, sliding 0.76%, but these three ASX shares are still struggling to keep up with the market.

They’ve got a reasonable excuse for their underperformance right now, however. They’re all trading ex-dividend today.

That means, from now on, anyone snapping up the stocks won’t be eligible to receive their upcoming dividends.

Let’s take a closer look at three ASX 200 shares passing the unfortunate milestone on Monday.

3 ASX 200 shares trading ex-dividend today

Vicinity Centres (ASX: VCX)

Shares in ASX 200 real estate investment trust (REIT) Vicinity Centres are trading ex-dividend today. The stock has slipped 1.54% to trade at $1.92 at the time of writing.

The company announced a 5.7 cent, unfranked final dividend last week, representing a portion of its $.2 billion full-year after-tax profit.

From today, those buying into the REIT’s shares won’t get their hands on the payout. It will start to hit investors’ accounts on 12 September.

Magellan Financial Group Ltd (ASX: MFG)

ASX 200 funds management business Magellan is also in the red today. Its share price is down 10.77%, trading at $12.88, likely at least partially due to its ex-dividend date.

The company declared a 68.9 cent, 80% franked dividend within its financial year 2022 earnings, released last week. That left its stock trading with a whopping 12.4% dividend yield as of yesterday’s close.

Those that were invested in the stock on Friday will receive the payout early next month.

Aurizon Holdings Ltd (ASX: AZJ)

The final ASX 200 share trading ex-dividend today is Aurizon. The rail freight operator’s share price is currently falling 4.18% to trade at $3.785.

The company revealed a 10.9 cent, fully franked final dividend on 8 August, representing a 24% cut on its previous final payout.

That dividend will be paid out on 21 September to those on the company’s registry as of Friday’s close.

The post 3 ASX 200 shares trading ex-dividend today appeared first on The Motley Fool Australia.

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More reading

• 3 tips for surviving a recession, according to Warren Buffett
• Janison share price slides as net loss after tax falls by triple digits
• Why these ASX lithium shares are outperforming the market today
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• APA share price slips on CEO resignation and earnings preview

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 has recommended Aurizon Holdings Limited. 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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