Here's why the Goodman Group share price is sinking today

What's happening with the global property group's shares on Wednesday?

| More on:
a woman sits with a concerned look on her face at her computer a home office environment.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Goodman shares are sliding almost 4% in early morning trade on Wednesday
  • The company's shares are trading ex-dividend today
  • Eligible shareholders will receive a payment of 15 cents per stapled security on 25 August

You might be wondering why the Goodman Group (ASX: GMG) share price is backtracking almost 4% today.

The S&P/ASX 200 Index (ASX: XJO) is also down by 1.06% to 6,692.2 points following losses overnight on Wall Street.

Nonetheless, the integrated commercial and industrial property group shares are down 3.79% to $18.27 at the time of writing.

Let's take a look at why Goodman shares are heading south during early morning trade.

Shareholders set eyes on Goodman dividend

Investors are offloading Goodman shares as they set to trade without rights (ex-dividend) today.

Listed one business day before the record date, the ex-dividend date is when investors must have purchased shares. If you did not buy Goodman shares before this date, the dividend will be paid to the seller.

For those eligible for Goodman's interim dividend, shareholders will receive a payment of 15 cents per stapled security on 25 August.

The dividend is unfranked which means there are no tax credits attached to this.

In case you weren't aware, the company's dividend reinvestment plan (DRP) remains suspended with no indication as to when it will return.

Goodman's policy is to distribute in the low 50% range of operating earnings and taxable income for the full year. This is reviewed by its board each financial year in light of operating performance and current market conditions.

Goodman share price summary

Since the beginning of 2022, Goodman shares have lost more than 30% on the back of weakened investor sentiment. The benchmark ASX 200 Index is also down around 10% over the same timeframe.

Goodman shares reached a 52-week low of $16.80 this month, before rebounding in the following weeks.

Based on today's price, Goodman commands a market capitalisation of roughly $34.5 billion, and has a dividend yield of 1.61%.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Dividend Investing

Happy woman and man looking at an iPad.
Dividend Investing

Forget term deposits! I'd buy these two ASX 200 shares instead

Term deposits aren’t as attractive to me these days.

Read more »

Man holding Australian dollar notes, symbolising dividends.
Dividend Investing

3 ASX dividend shares to buy with $7,000 and hold for a decade

Let's see why analysts think these shares would be great additions to an income portfolio.

Read more »

Woman relaxing on her phone on her couch, symbolising passive income.
Dividend Investing

Own IVV ETF or other iShares ASX ETFs? It's dividend payday for you!

Thinking TGIF? There's a better reason to celebrate. It's dividend payday for iShares investors!

Read more »

Hand holding Australian dollar (AUD) bills, symbolising ex dividend day. Passive income.
Bank Shares

This is the ASX bank stock with the largest dividend yield right now

Looking to ASX bank stocks for dividend income right now?

Read more »

A group of businesspeople clapping.
Dividend Investing

2 of the best ASX dividend shares to buy now

Bell Potter has good things to say about these income options.

Read more »

woman on phone
Dividend Investing

Is the Telstra share price a buy for passive income?

These are the two main factors I’d look at.

Read more »

Smiling woman with her head and arm on a desk holding $100 notes out, symbolising dividends.
Dividend Investing

2 cheap ASX dividend stocks to buy before it's too late

Analysts think these shares are cheap buys. Let's see what they are saying about them.

Read more »

Young couple at the counter of a hardware store.
Dividend Investing

Here's how often Wesfarmers stock increases its ASX dividend

Wesfarmers has quietly been delivering for income investors...

Read more »