Why the Fortescue (ASX:FMG) share price is sinking 6% today
James Mickleboro | March 1, 2021 10:11am |
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In morning trade, the iron ore producer’s shares are down 6% to $22.72.
Why is the Fortescue share price sinking today?
The good news for shareholders is that today’s decline has nothing to do with the company’s performance or the iron ore price.
This decline is entirely attributable to the fact that the Fortescue share price is trading ex-dividend today.
When a share trades ex-dividend, it means that it is trading without the rights to an upcoming dividend. In light of this, anyone buying shares from between now and the dividend payment date, will not be receiving the distribution.
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