Dividend Dates

[RedGreenBen]

Having just had a very financially painful experience that could be described by just 3 key-words... 'short' , 'dividend' and 'unexpected' (!) I would be keen to know of a reliable source of dividend dates.

Many thanks,

RGB
(1st time post, so be nice)

 

[Profitaker]

RGB

Whilst it's not authoritive, it is very reliable in my experience.

Typo's Forthcoming Ex-Dividends

 

[OpalSky]

mmm... useful link Prof. Thanks!

RGB, I guess you don't use Sharescope or any other subscription service? Digital Look gives a pretty comprehensive set of company data including latest/prev div dates (right hand column, 2/3 down). eg.

Savills Company Research (SVS) Share Prices, Charts, News, Financials, and More - Digital Look

 

[RedGreenBen]

Thanks to both for these useful suggestions.

To answer the question, no I don't use anything similar to the package you mention. I am sufficiently boring/socially illiterate etc (!!) to build my own systems and software from scratch.

I'm still confused though as both the sources show ETI.L (the one that stung) as ex-Div on 26/12 ,yet my spreadbetting provider adjusted the price on it going ex-div o/n tue/wed this week.

Is there a 'definitive' (lse?) list. I may just be missing something obvious (I'm new to equities, much happier with the simplicity of forex!) but this uncertainty scares me a bit.

Thanks again for the ideas though.

RGB.

 

[OpalSky]

Interesting RGB. FWIW, Sharescope is showing ETI as xdiv on the 24th!

I spreadbet with CMC and I took a look at their ETI price chart this last week and there didn't seem any obvious signs of going xdiv.

Time to ask your SB company/dealer methinks. Something to do with price adjustments falling on public holidays?

 

[OpalSky]

fyi ... just came across this on Tipsspreadbetting.com for how they do dividend adjustments on SB's.

Not endorsing or criticising, i was just checking them out and conveniently came across it...:-

Dividend adjustments
Dividend adjustments are credited to long positions and debited from short positions held at the close of business on the day before the ex-dividend date. If you are long, you will receive 80% of the dividend and if you are short you will be debited 100% of the dividend. Payment is credited / debited to your account on the ex-dividend date. Dividend adjustments may also apply to indices bets.


OS.

 

[RedGreenBen]

Thanks OS. I have contacted the SB company but they are remaining unusually silent. There is clearly a problem if their adjustment for XD is not coincident with the market adjustment when your position is not open across both these dates.

I'll post any response if/when I get one.

Thanks again to all.

RGB

 

[RedGreenBen]

Mysteriously triggered stop gave me the opportunity to get on to the SB company using 'shouty font' and they agreed that the XD was erroneous and so was today's stop fill. So I get two nice credits but hardly a nice warm feeling about this particular firm. The moral of the story is to watch statements like a hawk, ideally a very poor hawk.

RGB.

 

[OpalSky]

ahh.. the final instalment RGB. No, it doesn't give warm fuzzies does it? But at least they admitted their mistake without too much argument(?) and put it right. Would you be happy to tell us the name of the company? No probs if you'd rather not. Anyway, I hope the experience hasn't totally put you off shorting shares.

I used to give my statements only a cursory glance, checking the basics. Since April I've been scrutinising down to the last fraction of a point. On the couple of occasions when I've thought there was an error, it was by moi. Doh.

Anyway, Happy New Year one and all... chink... hic.... and may your trading be profitable.


All the best,
OS.

 

[RedGreenBen]

To answer OS's question, the company was Finspreads (about whom I could write a lengthy list of good and bad points. I'm starting to think that the trick is to match each companies strengths to a particular one of your strategies and use them for that only).

Happy New Year to all (at least I can now put my massive 0.2% return for December to the back of my mind!!).

RGB.

 

[Fiddlers Retreat]

in regards to Ex-Dividends and "Paid" dates - Would the Pay date effect a CFD trade - is it only the Ex-Div dates to look out for?

(esp if your shorting a stock)

Thanks

Matt

 

[A Dashing Blade]

Only the ex-div date is important as that's the date after which new (legal) owners of the stock are not entitled to receive the dividend ie that's the date on which the stock price should (all things being equal) fall by the amount of the dividend.

 

[Fiddlers Retreat]

thanks for that!

just going one step further -- does the price fall because it gaps down when the market opens -- or is it traders selling off, who bought the shares before the dividend?

cheers,

Matt

 

[A Dashing Blade]

The price falls because you're not entitled to the dividend

 

[RobbieRoo]

Have a look at dividend investor - DividendInvestor.co.uk: Dividends and Dividend Paying Stocks

 

[LION63]

The constituents of the FTSE go ex-dividend on Wednesdays, if you hold a short position at 10pm on a Tuesday the spreadbetting firm will deduct the dividend equivalent and if it is a long position they will credit your account. In the event that you have a close stop or limit it is likely to be adversely affected.

It is worth noting this as the amount deducted can sometimes be significant, this week the effect was a 31.5 point deduction from those that had short positions in the FTSE. This was due to the fact that a few of the big hitting constituents were included in the list.