Why is the Woolworths share price sinking to a multi-year low?
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The Woolworths Group Ltd (ASX: WOW) share price is under pressure on Wednesday.
In morning trade, the supermarket giant’s shares are down almost 3% to a new multi-year low of $29.11.
What’s going on? Let’s find out.
Why is the Woolworths share price falling on Wednesday?
Today’s decline could actually be classed as good news for the company’s shareholders.
That’s because this weakness has been caused by Woolworths’ shares trading ex-dividend this morning, which signifies that pay day is coming!
When a share goes ex-dividend, it means the rights to an upcoming dividend payment have now been settled.
As a result, if you were to buy Woolworths shares today, you would not receive its dividend when it is paid….
