Reece Limited (ASX:REH) shares fall nearly 5% today

2 min read | March 31, 2022 08:17 PM AEDT | By Priyanka Payal

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Reece Limited (ASX:REH) shares fall nearly 5% today — Image source: © Sashazamarasha| Megapixl.com

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Highlights

Reece shares closed 4.748% lower at AU$19.060 per share on ASX today.

The company is expected to make a dividend payment to its shareholders on 12 April 2022.

Today the benchmark ASX 200 Industrials index closed 0.166% higher at 6390.100 points.

The shares of Reece Limited (ASX:REH) closed in red on Thursday (31 March 2022) though there was no new update by the company. Reece shares closed 4.748% lower at AU$19.060 per share today. The stock has been on investors’ radar after it announced its solid first half HY22 results last month and declared an interim dividend of 7.5 cents per share, up 25% compared to the prior corresponding period.

Reece Limited shares have gained 10.05% over the last one year, while the stock has declined 31.81% on year-to-date (YTD).

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The company is expected to pay the dividend to its shareholders on 12 April 2022. Reece Limited is an ASX-listed company with a market capitalisation of AU$12.92 billion.

The company operates as a plumbing, building and hardware merchant across Australia. Reece provides various bathroom, kitchen and laundry products via its national stores and showrooms.

With its 800 branches in Australia, New Zealand and the United States, the Group distributes its plumbing, waterworks and HVAC-R products to commercial as well as residential customers.

Image Source: © Krisdog | Megapixl.com

Today, the S&P/ASX 200 (ASX:XJO) closed 0.199% lower at 7499.600 points. Reece Limited was one of the two bottom-performing stocks on ASX today. While the other was Harvey Norman Holdings Limited (ASX:HVN), down 6.30% at AU$5.350 per share on ASX.

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The benchmark ASX 200 Industrials index (ASX:XNJ) closed 0.166% higher at 6390.100 points today. The index has risen by nearly 9% over the last one year, while it is down 5.10% on YTD.

The shares of Reece’s two other rivals and ASX-listed industrial stocks Transurban Group (ASX:TCL) and Auckland International Airport Limited (ASX:AIA) were up 1.803% and 1.402%, respectively.

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