National Grid, Intertek and Kingfisher drag on FTSE in busy ex-dividend day Proactive uses images sourced from Shutterstock
National Grid PLC (LSE:NG.), Associated British Foods PLC (LSE:ABF) and Kingfisher PLC (LSE:KGF) are among the companies acting as a drag on the FTSE 100 on Thursday, as part of a busy batch of blue-chip stocks trading ex-dividend.
The largest effect on the index will be the electricity transmission group, which is expected to knock about 6.75 points off the index after going ex-dividend for its latest 32.14p shareholder payout.
Severn Trent PLC (LSE:SVT) is forecast to account for the next largest adjustment at 0.96 points, followed by Informa PLC (LSE:INF) at 0.80 points, Intertek Group PLC (LSE:ITRK) at 0.69 points and Kingfisher at 0.61 points.
Other FTSE 100 companies trading without entitlement to their latest dividends include DCC PLC (LSE:DCC), AB Foods, Alliance Witan PLC (LSE:ALW) and Diploma PLC (LSE:DPLM).
In total, the ex-dividend moves are expected to shave about 10.8 points from the blue-chip index in early trading.
There is also a sizeable batch of ex-dividend moves on the FTSE 250, led by Keller Group PLC (LSE:KLR), Hill & Smith Holdings PLC (LSE:HILS) and Hilton Food Group PLC (LSE:HFG).
Vesuvius, Gamma Communications and Victrex are also among the mid-cap stocks trading without entitlement to their latest dividends, alongside Breedon Group, Temple Bar Investment Trust and SSP Group.