When an ASX 300 share trades ex-dividend, it's quite a notable event. For one, it means that any new shareholders won't be eligible for the upcoming dividend that our share will be paying. This separates new shareholders, who won't get the payout, from old ones, who will.
But these events are conspicuous because, when a share goes ex-dividend, it tends to lose a large chunk of its share price. When a dividend is paid out, its value is transferred from the company to its shareholders. As such, the company becomes slightly less valuable as a result, leading to a commensurate fall in its share price.
So investors tend to take notice when these events occur.
It just so happens that Monday will see not one, but two ASX 300 shares trade ex-dividend. That means that today's session is investors' last chance to own these companies' shares and be eligible for their latest dividends. Let's check them out.
A pair of ASX 300 shares going ex-dividend on Monday
NRW Holdings Ltd (ASX: NWH)
ASX 300 mining contractor (and soon-to-be ASX 200 newcomer) NRW Holdings is the first share worth checking out. Last month, NRW announced that its next interim dividend (and first for 2023) will be coming in at an unfranked 8.5 cents per share.
Although it is unusual for NRW to pay an unfranked dividend, it does represent a meaningful 54.55% increase over the interim dividend of 5.5 cents that investors received last year.
This latest dividend payment from NRW will be arriving in investors' bank accounts on 6 April next month. But would-be shareholders have until the end of this trading session to buy NRW shares if they wish to receive it. At present, NRW shares have a dividend yield of 7.05%.
Adairs Ltd (ASX: ADH)
Next up we have ASX 300 homewares retailer Adairs. Adairs was another ASX site that reported its earnings last month. Back then, the company declared that its interim dividend for 2023 would come in at a fully franked 8 cents per share. That's flat on last year's corresponding payout.
This latest payment from Adairs is also scheduled to go out on 6 April. And, also like NRW, its eligibility will be closed off next Monday. So anyone desperate to receive this dividend will also need to own Adairs shares by the end of today's session.
This company's last final dividend came in at 10 cents per share. This means that Adairs shares have a dividend yield of 8.13% as it currently stands.
