The ARB Corporation Limited (ASX: ARB) share price is pushing upwards on Thursday, slightly rebounding from its 9% losses last month. This comes despite the 4×4 accessories company not releasing any market-sensitive news today.
At the time of writing, ARB shares are up 2.08% to $47.02 apiece.
ARB shares go ex-dividend
While the company hasn’t provided the ASX with any fresh news, investors are buying up ARB shares regardless of the stock going ex-dividend.
Investors need to buy shares before the ex-dividend date to be paid the dividend. Historically, when a company reaches its ex-dividend day, its shares tend to fall in proportion to the dividend paid out.
However, a possible catalyst for the rising ARB share price could be that the S&P/ASX 200 Index (ASX: XJO) is steaming ahead. As such, the benchmark index is up 0.60% to 7,250 points, rubbing out yesterday’s 0.58% decline.
What does this mean for ARB shareholders?
For those who are eligible for the ARB’s final dividend, shareholders will receive a payment of 39 cents per share on 22 October. The dividend is also fully franked which means shareholders can expect to receive tax credits from this.
Investors who elect for the dividend reinvestment plan (DRP) will see a 2% discount applied to the volume-weighted average price. This is for the 5 trading days subsequent to, and inclusive of, the ex-dividend date period.
The last election date for shareholders to opt-in to the DRP is 13 October.
ARB share price summary
It has been a strong year for the ARB share price, which is trekking around 50% higher for both 2021 and in the last 12 months. The company’s shares are around 13% lower than their all-time high of $54.46 reached in late August.
Based on today’s price, ARB commands a market capitalisation of roughly $3.85 billion, and has approximately 81.5 million shares outstanding.