2 ASX 300 shares trading ex-dividend this week

You'll have to be quick if you want the latest dividends from these ASX shares.

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We've now passed the busy part of dividend season on the ASX. But that doesn't mean we don't still have some ASX 300 dividend shares that have some cash left to give out to shareholders. In fact, the S&P/ASX 300 Index (ASX: XKO) has two dividend shares that are scheduled to trade ex-dividend this week.

When an ASX share trades ex-dividend, it separates those investors who are eligible for a dividend payment from those who won't be. Put simply, if you own the shares before the ex-dividend date, you will get the dividend. If you buy the shares on or after the ex-dividend date, you miss out.

That's why we tend to see a company that trades ex-dividend take a share price tumble when this eligibility is closed – reflecting that loss of value.

So without further ado, let's talk about the two ASX 300 shares that will go through this process this week.

2 ASX 300 income shares trading ex-dividend this week

Terracom Ltd (ASX: TER)

First up is ASX 300 coal miner Terracom. Terracom is scheduled to pay out its latest dividend on 27 June. The payment will be worth 3 cents per share, fully franked. But investors have until the end of trading tomorrow to buy shares if they wish to receive this dividend, with Terracom set to go ex-dividend on Thursday 8 June.

This latest dividend represents a significant cut in shareholder income for Terracom investors. The company is a rare ASX share that pays dividends quarterly. This latest payment is a 60% drop from the 7.5 cents per share payout shareholders enjoyed back in March. Terracom shares currently have a stupendous trailing dividend yield of 44.66%.

ALS Ltd (ASX: ALQ)

Next up, we have ASX 300 testing and inspection services company ALS. ALS only announced its latest dividend payment at the end of last month. Investors can expect to receive a 19.4 cents per share final dividend payment on 6 July. This payment will only come partially franked at 10%. The ex-dividend date is set for this Friday, 9 June.

This dividend is a small drop from the interim payment of 20.3 cents per share that investors enjoyed back in December. However, it is a big improvement over last year's final dividend, which came in at just 5.1 cents per share.

ALS shares currently have a trailing dividend yield of 2.89%.

Motley Fool contributor Sebastian Bowen has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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