Here's why Flight Centre Travel Group Ltd has fallen today

Shares of Flight Centre Travel Group Ltd (ASX:FLT) have fallen 2% today after going ex-dividend.

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Flight Centre Travel Group Ltd (ASX: FLT) is now trading ex-dividend.

On February 14, Flight Centre announced its interim dividend dates when it also disclosed its half-year profit was 9.5% lower than the prior year – a result it attributed to poor consumer confidence.

However, despite the lacklustre results, Flight Centre shares have since rallied an impressive 13%. This compares to a 1.1% return from the S&P/ASX200 (ASX: XJO) (Index: ^AXJO).

In addition, investors on the company's share registry as of yesterday evening will now be entitled to a 55 cents per share fully franked dividend, which is payable on 16 April 2015.

At yesterday's closing price of $40.75 per share that represents a yield of 1.35%, or 1.92% grossed-up for franking credits.

However, there are better dividend stocks available on the market right now, which yield much more than Flight Centre.

Motley Fool Contributor Owen Raszkiewicz does not have a financial interest in any of the companies mentioned in this article. Owen welcomes your feedback on Google plus (see below) or you can follow him on Twitter @ASXinvest. The Motley Fool’s purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead.  This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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