The ex-dividend date is always an interesting time to watch ASX dividend shares. Corporate finance theory indicates that investors should be indifferent between buying a share ex-dividend or buying the day before with the value of the expected dividend priced in.
That doesn't always prove to be the case. It's one reason why investors might want to keep an eye on these 2 ASX shares going ex-dividend on Wednesday.
Rural Funds Group (ASX: RFF)
Rural Funds is an agricultural real estate investment trust (REIT) that aims to provide investors with "regular income and potential capital growth through agricultural property ownership".
Today is one of the days that Rural Funds will deliver on its regular income target. Shares in the Aussie REIT are set to trade ex-dividend today ahead of the 2.93 cents per unit unfranked distribution.
The ASX agricultural share closed on Tuesday at an all-time high of $2.75 per share. Investors may see a significant drop from those highs in today's trade, however, in preparation for the latest distribution.
Shares in the Aussie REIT are currently trading at a 4.13% dividend yield ahead of today's ex-dividend decline.
Meridian Energy Ltd (ASX: MEZ)
Another prominent ASX share set to trade ex-dividend today is Meridian Energy. Shares in Australiasia's largest 100% renewable energy generator have been under pressure in 2021.
The Meridian share price is down 29.22% this year in a disappointing year for shareholders. Those figures are about to look worse if Meridian shares fall lower this morning. Meridian shares are set to trade ex-dividend ahead of its 10.48 cents per share final unfranked dividend.
Investors may see Meridian's value drop in early trade as the ASX renewables share trades ex-dividend ahead of the 15 October dividend payment. As at Tuesday's close, the group's shares are trading at a 3.03% dividend yield.
