ASX Shares Under Pressure: Rio Tinto, and Woodside Witness Declines

Highlights:

• Rio Tinto Ltd (ASX: RIO) shares down over 2% due to ex-dividend status for its final dividend.
• Woodside Energy Group Ltd (ASX: WDS) shares drop 3% as they also go ex-dividend for their final dividend.
• Market sees slight increase while these companies experience declines driven by dividend-related activities.

The S&P/ASX 200 Index is slightly up on Thursday, contrasting with the performance of several ASX-listed companies facing declines. Here's a breakdown of why four prominent shares are dropping:

Rio Tinto Ltd (ASX: RIO)

Rio Tinto's shares are down by over 2% to $120.96. The decline is attributed to the company's shares going ex-dividend this morning for its final dividend. Excluding this dividend, the miner's shares would be on an upward trajectory. Eligible shareholders can anticipate receiving Rio Tinto's $3.93 per share final dividend next month on 18 April.

Woodside Energy Group Ltd (ASX: WDS)

Woodside's share price has dropped by 3% to $29.62, reflecting the energy giant's shares going ex-dividend today. Eligible shareholders are set to receive the company's fully franked 91.5 cents per share final dividend in early April.

These declines follow the overall market trend but are largely influenced by dividend-related activities. Despite the short-term setbacks, investors holding these shares for the long haul may still benefit from the dividends and potential growth opportunities offered by these companies. However, market participants are advised to conduct thorough research and consider their investment strategies carefully.

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