3 ASX All Ords shares sinking over 5% after trading ex-dividend

Anyone buying these companies today will be missing out on the upcoming dividend.

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One hand giving $100 notes to another hand, symbolising ex-dividend date.

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There are a few ASX All Ords shares companies included in the S&P/ASX All Ordinaries Index (ASX: XAO), experiencing significant share price falls on Thursday. Notably, the downward moves are occurring despite a lack of any price-sensitive news.

The explanation is straightforward before you go racking your brain on why that might be. Today is the ex-dividend date for these major companies.

Simply put, this means anyone who buys shares today (or hereafter) will not be eligible for the upcoming dividend. As a consequence, the market naturally factors this into the share price.

Which ASX All Ords shares are trading ex-dividend today?

Resimac Group Ltd (ASX: RMC)

The non-bank lender is the smallest by market capitalistion on today's list. Resimac shares are down 7.8% to $1.01 around lunchtime as the company trades without its upcoming final dividend.

Those investors who acquired shares prior to the ex-dividend date will receive a payment of 4 cents per share fully franked. This amount is equal to the interim dividend, bringing total dividends for FY23 to 8 cents per share — equating to a yield of 7.3% based on yesterday's closing price.

Notably, the full-year payment is unchanged from FY22 despite a 35% decline in the company's net profits after tax (NPAT).

McMillan Shakespeare Ltd (ASX: MMS)

McMillan Shakespeare is another ASX All Ords share getting sold off today as it trades ex-dividend. Shares in the salary packaging and novated lease provider are 6.5% lower than where they finished yesterday.

For anyone holding McMillan shares prior to today, a 66 cent per share fully franked payment is set to come your way on 22 September.

The final dividend is 10.8% less than what was offered in the prior corresponding period. However, the full-year total is an improved $1.24 due to a higher interim payment — representing a 6.8% yield on yesterday's closing price.

Super Retail Group Ltd (ASX: SUL)

Finally, the sixth worst-performing company among ASX All Ords shares today is Super Retail Group. Investors are kicking it to the curb, with the retailer's shares 6.4% lower to $11.98 at lunchtime on Thursday.

Investors who held Super Retail shares before today will receive a final dividend per share of 44 cents and a special dividend of 25 cents. The boosted payment takes the company's total dividends in FY23 to a record $1.03 per share — working out to an 8% yield on the prior day's closing price.

Those eligible can expect this juicy dividend to land in their accounts on 18 October.

Motley Fool contributor Mitchell Lawler has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Super Retail Group. The Motley Fool Australia has positions in and has recommended Super Retail Group. The Motley Fool Australia has recommended McMillan Shakespeare. 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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