The S&P/ASX All Ordinaries Index (ASX: XAO) is edging higher this morning amidst a flurry of ASX reporting season activity.
But while the ASX All Ords index rises, some shares are struggling to keep up.
For some, lacklustre reports are driving this underperformance.
But for others, it's because their shares are turning ex-dividend. This means they're no longer trading with the upcoming dividend payment attached to it.
When a company's shares turn ex-dividend, they typically drop. After all, these dividends are being paid out of the company's cash reserves.
While the extent of the fall is usually in proportion to the size of the dividend, it varies based on market sentiment.
So, here are three ASX All Ords shares trading ex-dividend today. Unsurprisingly, their share prices are in the red.
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Codan Limited (ASX: CDA)
This ASX tech share is trading without its final dividend today. At the time of writing, the Codan share price is sliding 4.1% to $6.97.
Last week, Codan declared a fully franked final dividend of 15 cents.
Investors who held Codan shares when the market closed yesterday should see the payment land in their accounts on 7 September.
Codan's total FY22 dividends come in at 28 cents, up slightly from 27 cents in FY21.
This puts Codan shares on a trailing dividend yield of 4.0%, which amps up to 5.7%, including franking credits.
Baby Bunting Group Ltd (ASX: BBN)
ASX retailer Baby Bunting is another ASX All Ords share going ex-dividend today.
Baby Bunting shares are now trading without the company's fully franked final dividend of 9 cents.
This is likely contributing to the 3% fall in the Baby Bunting share price at the time of writing.
Investors who were on the company's share register by the time the market closed yesterday should pencil in a payment date of 9 September.
Baby Bunting achieved another year of dividend growth, with total FY22 dividends coming in at 22.3 cents.
This means Baby Bunting shares are currently flaunting a trailing dividend of 4.9%. Throwing franking credits into the mix bumps up this yield to 7%.
HT&E Ltd (ASX: HT1)
Rounding out this trio of ASX All Ords shares going ex-dividend today is media and entertainment business HT&E.
The company recently announced its first-half FY22 results, declaring a fully franked interim dividend of 5 cents per share.
This is up 43% compared to HT&E's interim dividend in FY21.
At the time of writing, the HT&E share price is down 4.58%, trading at $1.355.
If you owned HT&E shares when the market closed on Wednesday, you should be entitled to this dividend. Keep your eyes peeled for the funds to land in your account on 15 September.
HT&E shares are currently trading on a trailing 12-month dividend yield of 6.5%, or 9.3% grossed up.
