What are dividends, allotments, ex rights, filling rights, and ex dividends

Listed companies in Shanghai and Shenzhen generally only use two kinds of profit distribution: dividends and cash dividends, that is, the so-called bonus shares and cash distribution. When a listed company distributes dividends to shareholders, it must be ex-dividend, and the day of dividend distribution is the ex-dividend date; When a listed company sends bonus shares to shareholders, it must be ex-rights, and the day of the bonus shares is called the ex-rights date.

The **** on the equity registration date removes the equity contained in it, which is the ex-right**. It is calculated as follows:

Equity price = ** price on the record date of the equity (1 + share gift rate).

For example, before the ex-rights, you have 10 shares, the price per share is 2 yuan, and you will be given 10 shares when the ex-rights, and now you have 20 shares, and the number of shares has increased, but the total value remains the same, and the ex-rights date is 1 yuan per share.

Therefore, the stock price of ** on the ex-rights date is relatively low. It's easier to attract investors. The stock price of a company with good benefits will generally go up after the ex-rights, which is called filling rights, and when the stock price rises to the price at the time of the original ex-rights, it is called filling rights.

There are two types of allotments: paid allotment and unpaid allotment.

1.Paid allotment: The company handles a cash capital increase, and shareholders can subscribe for it according to the proportion of loose shares. This kind of allotment is ex-rights, except for"IPO Options"。

2.Free allotment of shares: The company has made money from operating and distributing the surplus according to the resolution of the general meeting of shareholders.

There are two methods of dividend distribution and share distribution, and the dividend distribution is that shareholders receive cash free of charge according to the proportion of shareholdings, which is generally called ex-dividend. The allotment is that the shareholders receive it free of charge according to the proportion of their shareholdings**. If it is said to be free of charge, shareholders do not need to take out money to subscribe.

This kind of allotment is ex-rights, except for"Right to distribute surplus"。

You can pay attention to the relevant information announcements for ex-rights, dividends, and allotments.

And whether this ** is filled in after the right is removed can be seen from the ** diagram.

The signal is really poor.,I haven't received it for half a day**。。 33

These concepts are all related to how the company distributes its earnings.

Dividends refer to the resolution of the company's general meeting of shareholders to distribute profits to shareholders in the form of ** or cash.

China generally does not pay dividends, and it is more common to give away shares and allotments.

The share is free of charge, and the allotment of shares requires shareholders to pay to buy, which is actually an additional issue to shareholders who hold the company's **, not everyone is qualified to buy, only shareholders are eligible to buy.

Ex-rights are related to dividends, and when dividends are distributed in the form of shares, the original ** enjoys the right to share dividends in it, which is called the right to implie. Ex-rights are the removal of the rights contained in each share, which is mainly reflected in the stock price. For example, a listed company issues 100 million shares, and the stock price per share is 10 yuan, and a year later, the total profit company decides to give 3 shares out of 10 shares, because the number of shares has increased, so the stock price becomes 10 1+ blocks after the ex-rights;

Ex-dividend is simply to deduct the cash from the stock price in the case of cash distribution, such as the stock price of 10 yuan.

Now the dividend per share is yuan, and the stock price becomes yuan.

In the period of time after the ex-rights and dividends, if the majority of people are optimistic about the stock, the market price of the stock will be higher than the ex-rights (ex-dividends).

For example, **** 10 yuan, dividends of one yuan, the stock price after ex-dividend is 9 yuan, if it is filled in the right, it is up to more than 9 yuan.

The ex-dividend date refers to the dividend date of the shares, that is, the day when the dividend is distributed to shareholders. Generally speaking, the ex-dividend date is the next trading day after the equity registration date, and the exchange needs to calculate the ex-dividend price on the ex-dividend date to give shareholders as a reference for the opening of the ex-dividend date. At the same time, the ** purchased on the ex-dividend date cannot enjoy the relevant rights in the allocation announcement.

Ex-dividend is an adjustment made by deducting the weight of the dividend received by the shareholders included in the market price when the listed company pays cash dividends or bonus dividends.

If you still hold the ** of the listed company after the equity record date (including the day of the equity record date), you can enjoy the right to dividends, and if the listed company pays cash dividends, it is ex-dividend. If it is a bonus share or a rights issue, it is ex-rights. If there is a cash dividend or allotment, it is ex-rights and dividends.

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

Apple's example is very inappropriate.

Ex-dividend is the right to get rid of bonus dividends, that is, there is no right to dividends on and after the ex-dividend date.

I'll give you an example:

A listed company pays dividends of 10 to 2, that is, 2 yuan for every 10 shares (for every 1 share), and the price is 10 yuan before the ex-dividend date (that is, the equity registration date), and the opening benchmark price of the ex-dividend date is yuan (each share should subtract the dividend of yuan), no matter how much money is on this day, there is no right to dividends.

For another example, if a listed company gives 10 shares to 2, that is, each share is given away, and the price is 10 yuan before the ex-rights date, the opening benchmark price on the ex-rights date is yuan (for every 1 share becomes a share, the stock price should also be deducted by 10 accordingly, and no matter how much money is given on this day, there is no equity gift.)

That is, the total assets of the listed company have not changed, but the number of shares has increased, or cash dividends have been distributed, and the value of each share needs to be recalculated. As a simple example, if there are only 2 people sharing an apple, and there are only 2 people who want to eat it, then you need to divide the apple into 4 parts!

What does the ex-dividend date mean?

Since the shares need to be circulated in the trading market on a daily basis, the dividend registration date is the date set by a listed company to define which shareholders can participate in the dividend or participate in the allotment.

Therefore, the premise for investors to get dividends and allotments of a listed company is to find out which date the company's equity registration date is, so as not to lose the opportunity to distribute dividends and allotments. The first day after the equity registration date is the ex-dividend date or ex-dividend date, which means that some investors no longer enjoy the company's right to dividends and allotments.

Ex-rights is due to the increase in the company's share capital, the actual value of the enterprise (net assets per share) represented by each share ** has decreased, and this part of the factor needs to be excluded from the **market** after the occurrence of this fact.

Ex-dividend is due to the distribution of dividends by the company's shareholders, and the actual value (net assets per share) of the enterprise represented by each share has decreased, and this part of the factor needs to be excluded from the **market ** after the occurrence of this fact.

The mandatory ex-dividend is to protect the interests of investors. Because there are many ** in the market, which one will give away shares, convert to share capital or cash dividends, and the general investor may not be clear.

If there is no forced ex-rights and dividends, when investors see that the price of the equity registration date is 10 yuan, because they do not know about the dividends, they may participate in the call auction with 10 yuan as a reference on the next day, which will damage the interests of investors.

We will be concerned about the security of funds, and there will generally be a warning line and a liquidation line.

Many shareholders were very happy when they heard about the allotment, thinking that they had given away a bunch of **. But in fact, it's just that they have changed their way to make money, is it wrong or right to do so? I'll tell you a good story

1. What does allotment mean?

Allotment is a listed company that combines its own development needs to issue a new ** to the original shareholders, so as to achieve the purpose of raising funds. It can also be said that the company is a little short of money and wants to put together the money of its own people. The original shareholders can decide whether to subscribe or not through their personal wishes.

For example, 10 shares for 3 shares, which means that every 10 shares have the right to subscribe for 3 shares according to the allotment price.

The ex-dividend date is after the allotment.

2. Is the allotment a good thing or a bad thing?

Is a rights issue good or bad? This has to be analyzed from different angles.

Under normal circumstances, the allotment price will be determined by a certain discount, that is, the allotment price is lower than the market price. Because of the newly added ** number, it is necessary to ex-right, so the stock price will be reduced by a certain percentage.

For shareholders who did not participate in the allotment, they will lose money because the share price decreases.

For shareholders participating in the allotment, although the stock price is getting lower and lower, the good thing is that the number of ** has been increasing, and the total income right has not been changed.

In addition, after the allotment of shares and ex-rights, especially in the bull market situation, it is possible to restore the original price, and it is more likely to recover to higher than the original price, in this case, it is possible to obtain certain returns.

For example, on the previous day, when a **** was 10 yuan, the allotment ratio was 10 2, and the allotment price was 8 yuan, then the ex-rights price was (10 10 8 2) (10 2) 14 yuan. On the second day after the ex-rights, if the stock price reaches $16, then the difference (16-14=2) yuan for each stock in the market can be obtained by the participating shareholders. From this point of view, it is good.

How do you know about the time of dividend allotment and the time of the shareholders' meeting? Want to get your hands on the best of the best? Take a look at this investment calendar: A-share investment calendar to help you stay up to date**.

3. How to operate when you want to allotment shares?

However, it should be noted that there is no definite distinction between good and bad for the operation of allotment of shares, and the key depends on how the company uses the money from the allotment.

Sometimes the issue of corporate allotment is often discussed, and it may be considered a precursor to the company's poor experience or bankruptcy, or a very large investment risk is coming, so when you encounter a allotment, it is very important to figure out whether it is good or not, and what is the company's development trend.

If you don't know how to look at the future development trend of this ** ticket, here will teach you, if you want to analyze the trend of the ** you hold, don't miss the professional judgment of financial analysts! 【Free】Test your ** is it good?

After the allotment. Because allotment is the same as getting cash dividends and sending shares, it is a kind of equity obtained, and since it is an equity, it needs to be ex-rights and dividends.

Of course, it is the first allotment payment before the ex-rights and dividends. How to remove rights without allotment? What's more, there is also the possibility that the allotment fails because the number of people participating in the allotment or the number of shares is too small, and the rights cannot be exterminated.