ASX All Ords retail share KMD Brands Ltd (ASX: KMD) is down 2.6% today to 76 cents per share.
But it's likely the Kathmandu owner's share price fall today simply relates to it going ex-dividend.
The S&P/ASX All Ordinaries Index (ASX: XAO) is also down by 0.82% today.
Meantime, we've learned that two directors of KMD have been buying up more shares for their personal portfolios. And they made their purchases in time to receive the entitlement to the dividend.
KMD Brands will pay a final dividend for FY23 of 3 New Zealand cents per share unfranked.
Payday is 20 October.
Let's look into how much these directors spent.
Image source: Getty Images
Directors of ASX All Ords retail stock raise their holdings
KMD board chair David Kirk bought 206,664 shares via a series of on-market trades between 25 and 27 September.
His investment totalled NZ$179,993 and he paid between 85 NZ cents and 88 NZ cents per share.
The shares were bought via his superannuation fund.
Non-executive director Philip Bowman purchased 150,000 shares on-market on 22 September.
He bought two parcels of the ASX All Ords retail stock.
The first parcel was 100,000 shares at an average price of 81.9 NZ cents. The second parcel was 50,000 shares at an average price of 82.7 NZ cents per share. The total consideration was NZ$123,275.18.
The directors were able to take advantage of the fall in the ASX All Ords retail share in 2023.
The KMD share price has slipped significantly from its 52-week high in May at $1.09.
Buying the dip is a strategy employed by investors to raise their stake in a company while reducing the average price paid for their total holdings in one fell swoop.
Plenty of ASX All Ords directors have been buying up shares lately following earnings season last month.
On 20 September, KMD released its FY23 results, revealing a 12.6% increase in sales to a record of NZ$1,103 million.
It's the first time the ASX All Ords retail company has achieved sales above NZ$1 billion.
