सभी किताबें

पेशेवर

ऐप्स परिचय Coach लॉग इन पढ़ना शुरू करें

Quantitative Finance · शब्दावली

Dividend, record date and ex-dividend date क्या है?

अन्य नाम: dividend · record date · ex-dividend date

Definition 8.3 Markets I: The Ecosystem and Exchange-Traded Markets · अध्याय 8 — Shares, Corporate Actions and Indices

A dividend is a distribution of cash (or shares) by a company to its shareholders, of a declared amount per share. It is paid to whoever is on the register at the close of the record date. The ex-dividend date is the first day on which a buyer of the share is no longer entitled to the dividend: trades made on or after it settle too late to reach the register in time.

The dates of a dividend. With one-day settlement the ex-date coincides with the record date. Between the ex-date and the payment the holder’s wealth is the share plus the dividend owed: a P&L system that forgets the second part shows a loss that did not happen ().
Figure 8.1. The dates of a dividend. With one-day settlement the ex-date coincides with the record date. Between the ex-date and the payment the holder’s wealth is the share plus the dividend owed: a P&L system that forgets the second part shows a loss that did not happen (Method 7.14).

उदाहरण

Example 8.13 (Two basis points)

P=102P = 102, D=2D = 2, and the stock closes ex at 99, a 1% fall net of the dividend. The standard factor gives −1.000%-1.000\%; the holder earned 101/102−1=−0.980%101/102 - 1 = -0.980\%. The error, two basis points, is εD/P\varepsilon D/P. Vendors differ in which factor they publish: two “adjusted close” series for the same stock need not agree, and a research database must state its convention.

अध्याय में पढ़ें →