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Ex-dividend date
The first day a share trades without its next dividend.
To receive a dividend on the JSE you must own the share at the end of the last day to trade, which is the day before the ex-dividend date. Buy on the ex-date or later and the seller gets the dividend.
On the ex-date the share price usually falls by roughly the size of the dividend, because new buyers no longer get it.
More terms
- Price to earnings (P/E)The share price divided by the profit per share: how many years of today’s profit you pay for.
- Dividend yieldThe dividends paid over the last year as a percentage of today’s share price.
- Payout ratioThe share of its profit a company pays out as dividends.
- Market value (market capitalisation)The share price times the number of shares: what the market says the whole company is worth.
- IndexOne number that tracks a basket of shares, so you can see how a whole market or sector is doing.
- RebalancingResetting an index’s members and weights on a fixed timetable.
- Every term ↗
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