Why do dividends go ex dividend? Isn t the ex dividend of stock dividends equal to no dividends?

1.Listed companies distribute dividends to shareholders, that is, when the company's earnings are converted into capital increases, or when allotments are carried out, the stock price must be ex-rights (XR), XR is the abbreviation of exclude (exclude) right. When a listed company distributes its earnings to shareholders in cash, the stock price is ex-dividend (xd), which is the abbreviation for exclude (exclude) dividend.

Shareholders who purchase the company** on the ex-dividend date are not entitled to this dividend or allotment.

For *** enterprises, the rights and interests of the first on the registration date of the share transfer are not enjoyed, and the rights and interests of those who are sold are not. Basis: After the official implementation of the "National Small and Medium-sized Enterprise Share Transfer System ** Transfer Rules (Trial)", the delivery mode has been changed from "T+1 full non-guaranteed delivery" to "T+1 amount guaranteed settlement".

2.When a listed company announces a share grant or allotment, before the bonus shares have not been allocated and the allotment has not been allocated, the ** is called a right**. A joint-stock company that wants to go through the ex-rights procedures must first report to the competent authority for approval, and after the ex-rights are granted, the company can determine the base date of equity registration and the base date of ex-rights.

Shareholders who own the ** on the share record date have the right to receive or subscribe for shares, and can participate in dividends or allotments.

After the ex-rights date (generally the next trading day of the equity registration date) is determined, on the day of ex-rights, the exchange will prompt on the abbreviation of ** according to the different dividends, add XR as ex-rights before the name of **, and there will be ex-rights on the day of ex-rights**, and the calculation of ex-rights ** will be different due to dividends or paid allotments, and its comprehensive formula is as follows:

Ex-rights price = (** price on the day before ex-rights + allotment price * allotment ratio dividend per share) (1 + allotment ratio + allotment ratio).

The opening price on the ex-rights date is not necessarily equal to the ex-rights price, and the ex-rights price is only a reference to the opening price on the ex-rights date**. When the actual opening price is higher than this theory**, it is called filling the right, and the shareholders of record can make a profit; On the contrary, when the actual opening price is lower than this theory, it is called the right to discount, and the right to fill in and the right to discount is the two possibilities after the ex-right, which is related to the situation of the entire market, the operation of the listed company, the proportion of the distribution and other factors, and there is no definite law to follow, but generally speaking, the listed company ** through the distribution of the right after the ex-right, its unit ** declined, the liquidity was further strengthened, and the room for growth was relatively increased. However, this does not allow listed companies to send allocations at will, and it must also regulate its own behavior according to the company's own operating conditions and relevant national laws and regulations.

Ex-dividend occurs when a listed company implements cash payouts. Although the cash distribution does not change the total share capital, the corresponding stock price will also be lowered due to the change in the net assets per share of the listed company after the cash distribution. For example, Changyu A implemented the distribution plan of 8 yuan (tax included) for 10 shares on April 26, the ** price on April 25 was yuan, and the ex-rights reference price (10 yuan shares, 8 yuan) 10 shares was yuan.

On the day of ex-rights, the ** abbreviation will be marked with "xd".

Ex-dividend: In fact, the purpose of ex-rights and ex-dividends is to adjust the corresponding value of each share of listed companies, so as to facilitate investors to compare and analyze stock prices. Just imagine, if there is no ex-rights and ex-dividends, the stock price of listed companies will fluctuate significantly.

With the ex-rights and ex-dividends, investors can carry out the re-weighting operation when analyzing the changes in the stock price trend, so that the trend before and after the ex-rights and ex-dividends is comparable.

I have figured this question out now, and the dividend ex-dividend is right. Because the company's net assets decreased after dividends, the value of ** decreased, according to the completely efficient market hypothesis, this change will definitely be reflected in the change in stock price, so **** should be ex-dividend lowered. Dividends are essentially the transfer of wealth from the company to investors, and they are also the best rights that investors should enjoy, rather than creating new wealth.

Since this part of the wealth is transferred to the investor in the form of dividends (a wealth is added to the account), then this part of the income must be deducted in other forms of wealth, so the ** asset should be reduced, and the stock price should be lowered to a reasonable price, which is also the reason for the ex-dividend).

The reduction of wealth in your question does not exist, because the money is transferred to the investor's pocket, if the dividend is equivalent to the investor continues to keep the money in the company, the stock price will not be ex-dividend, the dividend is equivalent to the company to return this part of the money to the investor, but this will affect the value of the **, the stock price will be lowered to completely deduct the outflow of this part of the money, so that the total assets of the investor before and after the dividend actually do not change, but the dividend realization increases the liquidity and security of wealth, It is not affected by the volatility of the stock price, and on the other hand, it also loses the possible return from reinvestment, but you can also choose to reinvest this part of the dividend, or you can invest in other investments, which shows that the dividend is still very beneficial.

Because our country dividends also have to pay income tax, so investors will lose part of their wealth through dividends, but this is a mistake in the tax system rather than a mistake in the dividend ex-dividend system, dividends will not make investors get anything but just the transfer of wealth is equivalent to taking money out of the left waist bag and putting it into the right pocket, in fact, the money left in the company and the money in the account after the dividend are shareholders', and the dividend is to realize the profits earned by the company into their own pockets.

There are still some problems with the way of dividends and dividends, because our country is not a completely efficient market, and the theory of ex-dividend is completely formulated in accordance with the efficient market, and it is mandatory for the stock exchange to go ex-dividend, and there is no room for the market to find the stock price, which seems a bit nondescript, it is best to let the market guide the attendance, fully reflect all kinds of information, which will offset the negative effect of the dividend on the stock price to a certain extent, and the stock price will not necessarily be adjusted to the theoretical ex-dividend price.

I'll give you an example, and you'll be able to understand it easily.

Because the **** factor is more complex, let's take a hypothetical bond to make (also **) assumptions.

Suppose you have a bond with an interest rate of 12% per annum and a dividend payout once a year. Assuming that today is 1 yuan (both the net value and the market ** are 1 yuan), theoretically speaking, a month later, his ** is the yuan, and the buying and selling ** at this time is the yuan. And one year later, the day before the dividend, his ** should be yuan.

The day before the dividend is the equity registration date, and the sale on this day is yuan.

If you buy it today and sell it a year later, because you have held it for 1 year, you can naturally get a dividend of yuan (whether you sell before the dividend or sell after the dividend, sell before the dividend, do not enjoy the dividend, but **high; Sell after dividends, there are dividends, but **ex-right).If you buy it with yuan before the dividend (registration date) after a year, and pay the dividend the next day, then you can get the dividend of the yuan, and the next day** becomes 1 yuan. This is reasonable.

If you don't exclave the rights, you can buy yuan, dividends, and sell yongyuan, and you can get yuan dividends if you hold them for 1 day, which is unreasonable and impossible.

So, because dividends are formed over time, it is not reasonable to hold them for that long and get a corresponding winnings. "Dividends and shares are not deducted from the stock price"It is basically impossible, unless there is a big change in the market, such as a big rise in one day. Reference.

Dividends and ex-dividends are an unfair system for investors, and the stock price corresponds to the owner's equity, and the owner's equity = assets - liabilities + undistributed profits. Note that it is undistributed profits, which can cover possible losses in the future and increase capital, where the increase in capital can lead to an increase in assets. Dividends are a kind of profit distribution, and since they have been distributed, they have nothing to do with the owner's equity, so they should not have anything to do with the stock price.

In fact, the dividend ex-dividend system is caused by the fact that investors cannot obtain income through dividends after buying**. Earnings can only be earned through share prices**. Turning the market into a game of drumming and passing flowers.

It is necessary to return the original appearance and abolish the dividend ex-dividend system.

If there is no ex-dividend or ex-rights, we will buy on the record date and sell the next day to earn dividends. Is there such a good thing? For the sake of fairness, ** to ex-dividend or ex-rights.

Of course, listed companies and market makers will also use the ex-dividend or ex-rights system to manipulate stock prices, because after the ex-dividend or ex-rights, the same funds can buy more shares, that is, it is easier to raise the stock price.

1.First of all, this will never happen in reality.

2.You can't express the absolute price you say. Whether it's the current price of the stock price, the net book asset value per share, or the revalued net value, or the intrinsic value, etc.

In addition, there are many valuation methods, and different valuation methods are applicable to different industries. There are many cases where there is only one dollar, but in fact it is more than one yuan.

3.Let's put down the absolute price first. Continue with your assumptions.

The stock price is 1 yuan and 1 yuan. Indeed, it will be 0 yuan, no doubt. But the stock price of a company that can send 1 yuan is unlikely to be 1 yuan.

And then so it goes back to 1. This is a paradoxical question. No solution.

Answer: Hello, the stock price fell after the spine Wang Hong's ex-dividend, and the total assets of shareholders.

It hasn't changed, but it's short-term, and in the long run, your assets will increase.

1. The company's market capitalization and net assets.

It's gone, but the value of the company hasn't changed! Because of the P/E ratio.

It has also fallen, the stock price is undervalued, the market will correct, and it is very likely that it will rise to fill the interest. A lot of **speculators may do the filling**.

2,100 yuan of shares, 10 dividends per year, ten years later, your stock price is 0 yuan? Almost impossible! Invest 0 yuan in the second year to pay dividends 10 fast, how is it possible? . .

Dividends will not affect the company's earning power! The market will tell you that yours will be worth 100 yuan, and at this time you have already received a total of 100 cash dividends. Your total assets are 200 blocks.

3. There is a slight difference in bonus shares, which will not cause changes in market value and net assets. Dividends affect the current price-to-earnings ratio, and dividends affect future price-to-book ratios.

You invest in 1% of a company, the company is doing well, and you make a big profit of 10 billion. What should you do if you only have shares in your hand and want to get cash?

The company takes out part of the profits, such as 30%, according to the proportion of shares. You can get 10 billion * 30% * 1% = 30 million dividends (tax included).

At this time, you still have 1%** in your hand.

In the second year, the company made a big profit of 20 billion, and took out 30% dividends, you can get 20 billion * 30% * 1% = 60 million dividends (tax included).

You feel that the money is too little. At one time, the ** was cleared, and 1% of the shares were sold for 200 million. Yes, too.

1. Laughing wild Li is out of breath

**When issuing dividends or bonuses, the issuer needs to check the shareholder register and convene a shareholders' meeting in advance.

and other preparations, so it is stipulated that the list of shareholders of record on a certain day shall prevail, and a period after this date shall be announced as the period for the cessation of shareholder transfer. During the transfer period, dividends are still paid to the old shareholders of record, and the holders of the new purchase** cannot enjoy the right to receive dividends because they have not transferred, which is called ex-dividend. At the same time, ** buy and sell.

**The amount of dividends that should be paid late during this period should be deducted, which is an ex-dividend transaction.

Summary. Pro-<>

Hello, this question is answered by me for you, **Isn't dividend ex-dividend equal to no dividend?: Dividend ex-dividend is not equal to no pen. According to the regulations of the Securities Regulatory Commission on dividends and dividends, if the dividend is 10 yuan and 1 yuan, the stock price should be reduced from this interest on the same day, because the dividend has been distributed to investors, then the spot transaction ** is equal to.

This is in order to maintain the balance of accounting, otherwise the dividends will be distributed to the investors, but ** is still the same as before**, and the additional wealth will be increased, which is not allowed in the accounting system.

**Isn't the dividend ex-dividend equal to no dividend?

Dear <> you are good, I will answer this question for you, **Isn't the dividend ex-dividend equal to no dividend: Isn't the dividend ex-dividend equal to no penalty. According to the regulations of the Securities Regulatory Commission on dividends and dividends, if the dividend of 10 yuan is 10 yuan and 1 yuan, the stock price should be subtracted from the interest of Tuanshanbi on the same day, because the dividend has been distributed to investors, then the spot transaction ** is equal to.

This is in order to maintain the balance of accounting, otherwise the dividends will be distributed to the investors, but ** is still the same as before**, and the additional wealth will be increased, which is not allowed in the accounting system.

The dividend of the pro-<> and the grandson refers to the investor's purchase of the listed company, and the investor belongs to the shareholders of the listed company, because he is the shareholder of the listed company, and enjoys the right of the listed company to hold the dividend. Ex-dividend, that is, after removing interest and dividends, due to the reduction of part of the cash, the net assets per share of the listed company will be reduced, so it is necessary to subtract the "interest" from the stock price, which is called ex-dividend.