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本帖最后由 Dav07 于 2015-10-29 02:37 编辑
The reason for the adjustment is that the amount paid out in dividends no longer belongs to the company and this is reflected by a reduction in the company's market cap. Instead, it belongs to the individual shareholders. For those purchasing shares after the ex-dividend date, they no longer have a claim to the dividend, so the exchange adjusts the price downward to reflect this fact.
分红是公司盈利的一部分,分红给了投资者后,公司的市值也会相应减少(等于你有100元,拿出10元给了股东,你只剩下90了,而存在的股票数量没变,分子变小,分母没变,所以自然价格就得掉),反应到股票价格上,交易所会做出相应调整,下调股票价格
那我们可不可以在分红发布日前买入股票,那不就可以很容易赚钱了吗?以下一段解释了:
In actuality, however, the company's stock price would decrease on the ex-dividend date by about the same amount of the dividend to eliminate this form of arbitrage. So, if you purchased stock before the ex-dividend date you would get the $1 cash dividend, but this would be offset by the simultaneous $1 drop in the stock price. Thus, buying a stock before a dividend is paid and selling after it is received has absolutely no value except a partial return of the capital invested in the stock in the first place
交易所为防止这种套利行为会在公司分红后下调股票价格,并且,有些公司规定在分红前多久买入股票才会收到分红
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