The S&P/ASX 200 Index (ASX: XJO) is out of form on Wednesday. At the time of writing, the benchmark index is down 0.1% to 7,851.9 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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Helia Group Ltd (ASX: HLI)
The Helia Group share price is down 14% to $4.83. This has been driven by the lenders mortgage insurer's shares going ex-dividend this morning. Last month, the company released its full year results and posted an 11% decline in underlying profit after tax to $220.9 million. However, this didn't stop the company from declaring a fully franked final dividend of 16 cents per share and a fully franked special dividend of 53 cents per share. This is a total of 69 cents per share and represents a 12.2% dividend yield based on its last close price. Eligible shareholders can look forward to receiving this early next month on 3 April.
Mineral Resources Ltd (ASX: MIN)
The Mineral Resources share price is down 5.5% to $23.51. This may have been driven by profit taking from some investors after a strong gain earlier this week on the back of a positive broker note out of UBS. The broker lifted its rating on the mining and mining services company's shares from sell to buy with a $28.60 price target. This implies potential upside of more than 20% from current levels.
Ora Banda Mining Ltd (ASX: OBM)
The Ora Banda share price is down 5% to $1.07. Investors have been selling this gold miner's shares following news that a major shareholder has been cutting its stake. According to the AFR, the company's largest shareholder, Hawke's Point, offloaded a $97 million interest through UBS on Tuesday. Investors may believe that this is a sign that its shares could be close to peaking after racing significantly higher over the past 12 months.
Webjet Group Ltd (ASX: WJL)
The Webjet share price is down 4.5% to 62.5 cents. This morning, this online travel booking company released a strategic update presentation. The company spoke positively about the future and revealed that it has "completed a rigorous and substantive strategic review." Management expects this "detailed plan to deliver significant growth by FY30." However, there won't be any earnings growth in FY 2025. It advised that it is "on track to deliver FY25 EBITDA in line with FY24." This may have disappointed some investors and sent them to the exits today.
