What does ex rights date mean? What does the ex dividend date mean?

What does ex-rights date mean? Although there are four forms of dividends and dividends issued by listed companies, the profit distribution of listed companies in Shanghai and Shenzhen generally only uses two kinds of dividends and cash dividends, that is, the so-called bonus shares and cash distribution. When a listed company distributes dividends to shareholders, it must ex-dividend on **; When a listed company gives bonus shares to shareholders, it must ex-rights on **.

When a listed company announces that there are profits available for distribution in the previous year and is ready to implement them, the ** is called a weighted stock, because holding the ** has the right to dividends. At this stage, the listed company generally has to announce a time called the "share record date", that is, the shareholders who hold the ** at the close of the market on that day will enjoy the right to dividends. In the previous ** paper transactions, in order to prove the right to dividends to the listed company, shareholders had to register on the record date of the company's announcement, and only the ** holders who were recorded in the company's register of shareholders on this date were eligible to receive dividends distributed by the listed company.

After the implementation of the first paperless transaction, the equity registration is carried out automatically through the computer trading system, shareholders do not have to go to the listed company or the registration company for special registration, as long as the registration of the market at the close of the first, shareholders will automatically enjoy the right to dividends. After the equity registration, ** will be ex-rights and dividends, that is, the dividend rights contained in ** will be released. The ex-rights and ex-dividends are carried out after the record date of the shares.

Shareholders who purchase ** after the ex-rights will no longer be entitled to dividends. On the ex-dividend date of **, the exchange must calculate the ex-dividend price of ** as a reference for shareholders to open on the ex-dividend date. Because it has ** before the opening of the market, and the ** of its trading on the next day will no longer participate in the profit distribution, the ex-rights and ex-dividend price will actually change the ** price on the equity registration date.

The calculation formula is: Equity price = ** price on the equity record date (1 + share allotment rate per share) If ** has both cash dividends and bonus shares at the time of dividends, the ex-rights and ex-dividend price is: Ex-rights price = (** price on the equity record date Cash dividend per share allotment rate Allotment price) (1 allotment rate per share allotment rate per share).

For example, I am a listed company, the stock price is 100 yuan a share, you like me, buy me 100 shares, and then I found that many people also like me, but they just don't buy my **, it's too expensive, so I split 1 share into 2 shares to sell, so that 1 share becomes 50, so that more people who like me can buy my **, this is ex-rights.

On the ex-dividend date, there is a dividend distribution on the first day of the purchase. The ex-dividend date is the ex-dividend date a few days before it. As long as the purchase after the ex-dividend date, you can have the right to dividends, because the ex-dividend date is the day of dividends.

However, if it is on the ex-dividend date, it will be on the ex-dividend date**, but there is no year-end bonus.

Although there is a certain decline in the ex-dividend date of the stock price, the total assets of investors are not easy to change. Only when the stock price is filled, the investor will make a profit and the corresponding total asset will increase. The ex-rights date refers to the deadline for the top 10 shareholders stipulated by the shareholders' meeting.

The ex-dividend is usually announced next to the ex-date rent draft, and in the next two weeks, anyone who owns the company's equity on the ex-right date can share in the dividend distribution. The next business day after the ex-rights date is the ex-rights date or the ex-rights and ex-dividend date. Shareholders who purchase the company's equity on that day will no longer be entitled to the company's dividend distribution.

Ex-date refers to a special date. The record date is the share record date on the day on which the dividends, certified shares or other valuable interests of a listed company are made, and those who purchase the company** after that date are not entitled to such rights. It is usually referred to as the next trading day after the record date as the record date.

There will be two situations at the opening price of the ex-rights date and discount, and the shareholders of record will be in a profitable state when the rights are filled.

[Legal basis].Article 545 of the Civil Code of the People's Republic of China A creditor may transfer all or part of the creditor's rights to a third party, except in any of the following circumstances:

1) It cannot be assigned according to the nature of the obligatory right;

2) It may not be transferred in accordance with the agreement of the parties;

3) It cannot be transferred in accordance with the provisions of law.

Where the parties agree that non-monetary claims may not be assigned, they must not be used against a bona fide third party. Where the parties agree that monetary claims may not be assigned, they must not be used against a third party.

Ex-rights and dividends refer to an adjustment made by deducting the weight value of the dividends received by shareholders included in the market price when a listed company pays cash dividends or bonus dividends. Shareholders who purchase shares in the company on the ex-dividend date may not be entitled to dividend distributions or distributions.

Ex-rights are the price of the previous day minus the difference between the price of the previous day and the day of the allotment, which is the ex-right. On the day of ex-rights**, the name is preceded by the XR symbol. For example: XR600888

For example, the price of a stock price on the first day of the ex-rights date is 26 yuan, and the dividend plan is to give 10 shares for every 10 shares, then the ex-rights price of the stock is 13 yuan, and the number of shareholders will be doubled.

Ex-dividend. It is to distribute the dividend to your account in cash on the same day, and the cash dividend amount of the listed company is subtracted from the previous day's **price on the day of the dividend, which is called ex-dividend. On the day of ex-dividend**, the name is preceded by an XD symbol. For example: xd600888

Ex-dividend price formula = ** price on the dividend record date - cash amount of dividends distributed per share.

For example, if the price of a dividend on the record date is RMB, and the dividend cash per share is RMB, the stock price on the next day will be RMB).

The impact of ex-rights and dividends on the opening price on the day of ex-rights and ex-dividends is mainly manifested in the fact that the opening price often "falls sharply", which is a normal performance. Because the shareholders of the company can no longer enjoy the company's dividends on the second day after the equity registration date, which is reflected in the changes in the company, there will be an ex-rights price on the ex-rights date.

Although this ** is significantly lower than the previous day (the record date), this is not the stock price**, and it does not mean that the shareholders who bought the ** before the ex-rights date have suffered a loss as a result.

Compared with the shareholders who are "at a low price" but have no right to share the dividends after the ex-rights, the shareholders who are in the "** position" but have the right to share the dividends have equal interests and opportunities, and the latter does not have any "losses".

For example, if a share gets 3 shares for 10 shares, and shareholder A buys 1,000 shares at the closing price of 10 yuan on the equity registration date, and spends a total of 10,000 yuan (excluding handling fees and stamp duty). The next day, the stock was ex-rights, and the ex-rights price was 7 69 yuan, at this time, shareholder A ** changed from the original 1,000 shares to 1,300 shares, and the principal was still 10,000 yuan at the ex-rights price, and there was no loss.

The ex-rights date is the next trading day after the share registration date. The reason for this is that when the total number of tradable shares in the market increases after the transfer or distribution of shares, then the original ** must be ex-rights. Because of the same total market capitalization, the number of shares has increased, but ** has not decreased, which will cause relative unfairness.

Shareholders who hold shares before the ex-rights date can obtain valuable rights and interests such as dividend shares, bonus warrants, and rights issues at discounted prices announced by the listed company.

Ex-rights effect: Due to the increase in the company's share capital or the distribution of shareholder dividends, the actual value (net assets per share) represented by each share of the enterprise has decreased, and it needs to be excluded from the **market** after the fact. Exclusions arising from an increase in equity are called ex-rights, and exclusions arising from the distribution of cash interest are ex-dividends.

When a listed company pays **, dividends and bonuses, it shall determine the equity registration date. Shareholders who hold or purchase ** before the equity registration date have the right to deliver equity, distribute dividends or allotment shares, and the right belongs to the right to (interest)**.

The meaning of the ex-dividend date is simply the dividend date. Ex-dividend refers to the distribution of dividends to shareholders by listed companies, that is, when the company's earnings are converted into capital increases, or when allotments are carried out, the stock price must be ex-righteous, and then the surplus will be distributed to shareholders in cash, and the stock price will be ex-dividend. The English abbreviation for expulsion is:

XR, the English abbreviation of ex-dividend is: XD.

Dividends of listed companies

Generally, listed companies have two forms of dividends: cash dividends or dividends to shareholders, and listed companies can choose one of these forms to distribute dividends according to the situation, or they can use both forms to distribute dividends. Among them, cash dividends refer to dividends paid to shareholders in the form of cash, which is called dividends or dividends.

Dividends refer to the distribution of listed companies to shareholders, and dividends appear in the form of dividends, so they are also called bonus shares or shares. For example, 10 get 4 for every 10 shares you have, he will give you 4 shares, and if you have 200 shares, then you will have 280 shares. In addition, investors often encounter the situation that listed companies are converted to share capital, which is different from dividends, which is a way of shareholder income by distributing undistributed profits to shareholders after deducting provident fund and other expenses.

Conversion of share capital refers to the conversion of capital reserve into share capital, which will not increase the equity of shareholders, but will increase the size of share capital. Ex-dividend and ex-right refers to the disguised disappearance of what has just been sent, which will keep your total market value unchanged, which is equivalent to making you no money. In terms of ex-dividend, there will be a stop transfer period, if you are an old shareholder before the transfer period, then you will get this 20 yuan income, and if you are a new shareholder after the stop period, then you will be removed at the time of ex-dividend.

Ex-rights, refers to a high transfer like 10 for 10, if you originally have 100 shares, then he gives you 10 shares for 10 shares and you will become 200 shares. But he will also carry out an ex-right later, that is, assuming that the original value is 20 yuan per share, then it will become 10 yuan per share after the ex-right. In this case, the total market value of your holdings remains unchanged, and the total number of shares doubles.

The ex-dividend date is the date on which the listed company issues dividends to the shareholders who hold the company, on this day, the investors of the company cannot enjoy the company's dividends and allotments, and the working day before the ex-dividend date is the equity registration date, and investors need to enjoy the right to dividends on or before the equity registration date.

In addition, on the day of the ex-dividend date, the stock exchange needs to calculate the stock price after the ex-rights and dividends, so that investors can refer to the opening price on the ex-dividend date.

Ex-rights and ex-dividends mean that after the company distributes cash dividends or bonus dividends to shareholders, it needs to deduct the shareholders' dividends included in the ** market price, and the total assets of investors will not change after the ex-rights and dividends.

It should be noted that there is a difference between ex-rights and ex-dividends, **after the distribution of dividends, the total share capital of the listed company will increase, and this situation is not allowed in China's A** field, so it is necessary to carry out ex-rights, and the stock price will be reduced to achieve balance after the ex-rights. The ** cash dividend will not change the total share capital, but it also needs to be ex-dividend to maintain the balance of the stock price.

Ex-date date refers to a specific date on which the person who holds the shares (i.e. the shareholder) who holds the shares on the day before the right date (i.e. the shareholder) can enjoy the interest if the listed company announces the issuance of dividend shares, dividend warrants, shares at a discount or the distribution of other valuable interests. The Company** shall not be entitled to such benefits on or after the date of entitlement.

Ex-date and ex-dividend date are the same concept. The difference between the two concepts is that the former involves non-cash interests, while the latter involves cash dividends and includes dividends that can be selected to receive new shares instead of cash dividends.

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-date refers to a specific date on which if a listed company announces the distribution of bonus shares, bonus warrants, rights issues at a discount or other valuable interests, the persons (i.e. shareholders) who hold its shares on the day before the ex-rights date will be entitled to such rights, while those persons who will be the company on or after the ex-rights date will not be entitled to such rights.

The ex-dividend date and the ex-dividend date are the same concept, with the only difference being that the former relates to non-cash forms of entitlements, while the latter relates to cash dividends (including the option to receive new shares in lieu of cash dividends).