As we continue to wade through ASX reporting season, companies in the S&P/ASX 200 Index (ASX: XJO) are giving investors plenty to think about.
Tomorrow promises to be busy with the likes of Wesfarmers Ltd (ASX: WES) and Ramsay Health Care Limited (ASX: RHC) expected to pull back the curtain on their FY22 results.
But for ASX 200 companies that have already unveiled their reports, their shares are starting to turn ex-dividend.
This is the date that a company's shares no longer trade with the upcoming dividend payment attached to them.
Shares typically drop in value the day they turn ex-dividend. After all, these dividends are being paid out of the company's coffers.
With the money being taken out of the company's cash reserves to line the pockets of shareholders, the value of the company decreases.
What's more, some one-eyed investors focused on dividends may look to offload shares once they trade ex-dividend. This puts further downwards pressure on the share price.
Without further ado, here are the ASX 200 shares going ex-dividend tomorrow.
Newcrest Mining Ltd (ASX: NCM)
As its shares turn ex-dividend, this ASX 200 gold miner could end the week on a negative note.
Newcrest recently declared a fully franked final dividend of 20 US cents.
Today is the last day investors will be able to lock in this final dividend.
Shareholders on the company's registry by the time the market closes today should see this payment arrive on 29 September.
Alternatively, investors could elect to participate in the company's dividend reinvestment plan (DRP).
Newcrest's total FY22 dividends come in at 27.5 US cents, down from 55 US cents in the prior year.
Newcrest shares are currently trading on a trailing dividend yield of 2.2%. This dials up to 3.1% including franking credits.
Lendlease Group (ASX: LLC)
Lendlease is another ASX 200 share turning ex-dividend tomorrow.
The construction and infrastructure company recently announced a partially franked final distribution of 11 cents.
The payment date for this final distribution has been pencilled in for 21 September.
Combined with its interim distribution, Lendlease's total distributions for FY22 come to 16 cents.
This represents a dividend payout ratio of 40% of earnings, which is at the lower end of the company's target range.
Lendlease shares are currently stamped with a trailing dividend yield of 1.6%.
GUD Holdings Limited (ASX: GUD)
Last but not least, ASX 200 share GUD will also be going ex-dividend on Friday.
For those unfamiliar, GUD owns a portfolio of companies in the automotive aftermarket and water products sectors. The company's stable of brands includes Ryco, Narva, Projecta, and Davey.
GUD recently declared a fully franked final dividend of 22 cents per share. This represents a dividend payout ratio of 62% of underlying net profit after tax (NPAT).
Investors who own GUD shares by the time the market closes today should see this dividend payment land in their accounts on 13 September.
Although GUD achieved underlying NPAT growth of 39% in FY22, its total dividends were down 32%. This is because the company had a higher payout ratio in FY21, returning 84% of underlying NPAT to shareholders in the form of dividends.
The company previously flagged this reduction in its payout ratio, deciding to prioritise reducing its gearing levels following the acquisition of AutoPacific Group.
Even still, GUD shares are currently sporting a trailing dividend yield of 4.6%. Throwing in franking credits boosts this yield to 6.5%.
