When an ASX All Ords share turns ex-dividend, investors buying these shares won't be eligible to receive the company's upcoming dividend payment.
Instead, the dividend payment will go to the seller on the other side of the transaction.
What's more, a company's shares typically fall on the day they turn ex-dividend, reflecting the absence of the dividend.
Ahead of the ASX closure on Thursday, here are three ASX All Ords shares turning ex-dividend tomorrow.
NRW Holdings Limited (ASX: NWH)
To kick things off, NRW shares will be trading tomorrow without a fully franked final dividend of 7 cents.
Investors who own NRW shares by the time the market closes today can expect to see this payment land on 12 October.
According to management, FY22 saw the best results NRW has reported.
Revenue grew by 5% to $2.4 billion while earnings before interest, tax, and amortisation (EBITA) came in ahead of guidance at $157 million, up 30% from the prior year.
On the back of these results, NRW hiked its final dividend by 40%, with annual dividends growing by a similar amount to 12.5 cents.
Based on current prices, this puts NRW shares on a trailing dividend yield of 4.9%. Adding in franking credits boosts this yield to 7.0%.
In other news, NRW made headlines recently after it launched a $375 million play to acquire MACA Ltd (ASX: MLD). However, this wasn't enough to sway MACA's board from an offer already on the table from mining services giant Thiess.
Macmahon Holdings Limited (ASX: MAH)
Next up, fellow mining services company Macmahon will also see its shares turn ex-dividend tomorrow.
Macmahon is set to pay out an unfranked final dividend of 0.35 cents to eligible shareholders on 7 October.
While this dividend may appear small in absolute terms, the Macmahon share price is currently sitting at 15.5 cents.
So, after throwing in the company's interim dividend of 0.3 cents earlier in the year, Macmahon shares are sporting a trailing dividend yield of 4.2%.
FY22 was a year of growth for Macmahon, lifting revenue by 26% to $1.7 billion. This was primarily driven by the contribution from new project start-ups, inflation, and increased contract activity.
This revenue growth partially flowed through to earnings, with underlying net profit after tax (NPAT) increasing by 5% to $63 million.
The ASX All Ords share held its total dividends steady at 0.65 cents, in line with the prior year.
Capitol Health Ltd (ASX: CAJ)
Rounding out this trio of ASX All Ords shares going ex-dividend on Wednesday is diagnostic imaging business Capital Health.
As of tomorrow, Capitol Health shares will no longer be trading with a fully franked final dividend of 0.5 cents, which will be paid on 21 October.
Capitol Health delivered revenue of $184 million in FY22, up 3% from the prior year. This was driven by organic growth, the acquisition of Womens' Imaging, and three greenfield clinic openings.
These growth drivers were partially offset by COVID lockdowns, suspensions in elective surgery, and impacts from the omicron variant.
On the bottom line, statutory NPAT decreased 9% to $11 million.
Nonetheless, Capitol Health held its final and total dividends steady. The ASX All Ords share has declared fully franked interim and final dividends of 0.5 cents since 2019.
As a result, Capitol Health shares are currently flashing a trailing dividend yield of 3.0%. Including franking credits, this yield dials up to 4.3%.