The Woodside Energy Group Ltd (ASX: WDS) share price is in the red on Thursday.
In early trade, the energy giant's shares are down 3% to $29.56.
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What's going on with the Woodside share price today?
This decline has been driven by the company's shares going ex-dividend this morning along with fellow mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Ltd (ASX: RIO).
When a company's shares go ex-dividend, they will generally decline by the value of that dividend. That's because the rights to the dividend are now locked in and anyone buying its shares today won't be entitled to receive the pay out when it is made.
In the case of Woodside, it declared a 91.5 cents per share final dividend with its full year results last month.
Based on where the Woodside share price closed yesterday's session, this equates to a very decent dividend yield of 3% for just the final dividend.
Eligible shareholders can now look forward to receiving this payment in their nominated bank accounts next month on 4 April.
Insider selling
One shareholder that won't be receiving as many dividends as they could have is CEO, Meg O'Neill.
That's because earlier this week, the company revealed that its leader offloaded 14,883 shares for an average of $30.09. This equates to a total consideration of almost $450,000.
To put that into context, those 14,883 shares would have generated $13,617.945 in dividends next month if O'Neill had held onto them.
Nevertheless, Woodside's CEO is still on course to have a bumper pay day from her remaining shareholding.
With O'Neill in possession of 173,920 ordinary Woodside shares, she can look forward to a $159,136.80 dividend pay day after the Easter break.
