The Macquarie Group Ltd (ASX: MQG) share price is down 0.46%, but it's outperforming the S&P/ASX 200 Index (ASX: XJO) today.
Macquarie shares are $237.68 apiece at the time of writing, while the ASX 200 is down 1.2%.
This follows a two-day summit between the US and China in Beijing that yielded no significant announcements.
The war in Iran continues, and the Strait of Hormuz, through which about 20% of the world's oil and gas is transported, remains virtually shut down. However, Chinese ships are being allowed through via coordination with the Iranian authorities.
US President Donald Trump insisted that he did not need China's help to end the war and that Iran's time to make a deal is running out.
Image source: Getty Images
Why is the Macquarie share price in the red?
The main reason is that it's ex-dividend day.
That means Macquarie shares are no longer trading with the next dividend attached.
Macquarie shares are among 16 ASX stocks with ex-dividend dates in May.
Macquarie shares will pay a final dividend of $4.20 per share with 35% franking on 2 July.
The total dividend for FY26 was $7 per share. Based on today's share price, this gives Macquarie a trailing dividend yield of 2.95%.
ASX 200 bank shares are a mixed bag today.
Only Commonwealth Bank of Australia (ASX: CBA), up 0.4%, and Westpac Banking Corp (ASX: WBC) shares, up 0.1%, are in the green.
A recap on Macquarie's FY26 results
The bank announced its full-year results on 8 May.
Macquarie reported a net profit after tax (NPAT) of $4,847 million, up 30% on FY25.
The 2H FY26 net profit was a half-year record at $A3,192 million, up 93% on 1H FY26.
The earnings per share (EPS) for FY26 was $12.77, up 30% on FY25.
The return on equity (ROE) for FY26 was 14%, up from 11.2% in FY25.
The bank's net operating income for FY26 was $A19,477 million, up 13% on FY25.
International income formed 68% of Macquarie's full-year income.
Operating expenses for FY26 were $A12,748 million, up 5% on FY25.
Share buyback program closed
Macquarie also announced the end of its share buyback program.
The bank acquired $A1,013 million worth of Macquarie shares on-market at an average price of $189.80 per share.
The board approved an extension of the buyback in November 2025, but Macquarie chose not to proceed with further purchases.
The bank explained:
Given significant business growth over recent periods, together with the prevailing market conditions, Macquarie has not purchased any shares under the buyback since the Board-approved extension announced on 7 November 2025.
There is currently no expectation of further share purchases under the extended buyback and so the Board has resolved to conclude the on-market share buyback.
The Macquarie share price hit a 52-week low of $187.31 on 19 November before commencing a rapid rebound.
Macquarie shares leapt 17.4% over the next three months, which likely made further buyback purchases unappealing.
Macquarie share price snapshot
The Macquarie share price is up 17% in the calendar year to date, while the ASX 200 is down 2.5%.
