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Author Topic: Ex-dividend date bug or luck?  (Read 8079 times)

Luna

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Ex-dividend date bug or luck?
« on: July 15, 2014, 01:27:09 pm »
Hi Patrick,

I bought 1918 LEWIS shares at R66.95 before the LDT (2014-07-11) and sold the shares at 08:42:05 on the Ex-div date (2014-07-14). What I expected was that the share should have immediately dropped to a lower value on the Ex-div date which was suppose to be near the R64.00 value... not sure... But it went through as R66.90. This means that I got the dividend while selling my shares at a higher price than the market.

I think this happens due to the 15 minute delays? Maybe you should add something that ensures that shares can't be sold for the previous value? especially when it is that share's ex-dividend date?

Not sure how this happened.
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Patrick

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Re: Ex-dividend date bug or luck?
« Reply #1 on: July 15, 2014, 03:52:19 pm »
Bloomberg must have been slow to update. The 15 minute adjustment script kicks off at 9am, so that's 18 minutes you sold. It can happen but shouldn't.

In theory, you should have +- R4 923,51 less cash as the price drop would usually be equal to the dividend paid. Could I "correct" this for you?
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Luna

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Re: Ex-dividend date bug or luck?
« Reply #2 on: July 15, 2014, 03:55:59 pm »
Yeah seems fair...
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Patrick

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Re: Ex-dividend date bug or luck?
« Reply #3 on: August 04, 2014, 07:26:29 am »
Quote from: Luna on July 15, 2014, 03:55:59 pm
Yeah seems fair...

Done, you're a tad in the negative, but that'll be sorted out after your next sale.
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