My bad.
mark down date = Ex-div
mark down price is price after adjustment

@Elai147,

This confusion in the NSE is the reason I raised this quiz.

NSE doesn't always quote the ex-div date and the ex-div date is NOT always the closure date stated. You have to read the corporate action document very well to know the exact date. When that date is not clearly stated, then you should target at least 3 working days before the stated closure date.

This is the reason why sometimes people get the dividend and other times they dont. It's simply because the date was not well understood. In summary of all that has been said:

1. If you want a dividend you should buy at least one day before the ex-div date.
2. Ex-div date is the day the stock price is adjusted (mark down). From that day forward, you no longer qualify for dividend.
3. Closure date or Record date is usually a number of days after the ex-div date and it varies. This date is set to accommodate those who bought a day to ex-div date.
4. NSE dates are mixed up. Sometimes they report qualification date, others ex-div date and others record date.
5. The terms closure date and qualification date are misused sometimes.
6. To be 100% sure and avoid confusion, always ensure you have bought the stock at least 3 days to the first quoted date.

megainvest:


No, you wont. You must own the stock at least 3 working days before the closure date i.e. 21st. Read my explanation.

Another confusing part of your post. This is contrary to your explanation in your original post (To qualify for a dividend payment you must be the owner of shares at the close of business on the working day before the ex-dividend date) . The 21st in austinibe7777's example is the ex-dividend date. You applied the T+3 rule in your reply to austinibe7777 (which I always advise) but in your original post, you considered the usual which is to own the stock at least a day before ex-dividend date (which is actually right also).

austinibe7777:
In all this now what date will transcorp be marked 21st or 22nd

The markdown date on the NSE website is 22nd April 2015. Transacorp will be marked down on this date.

austinibe7777:
In all this now what date will transcorp be marked 21st or 22nd

Read the attached from Transcorp. My interpretation is that as the market opens on 22nd, it will be marked down. So you should own it by 21st as stated in item 2. However to be very very sure, you can buy 3 days earlier than 21st.

Moneysage:
@megainvest

To simplify this issue for other readers: There is only one Mark down date. You may ignore the range (e g 21-24 that many Nigerian companies quote).

To be safe, just make sure you buy the stock before the first of the 2 dates. Why would you wait till 22nd or 23rd when you can buy the stock on 20th or 21st?

Very correct. It is better to buy earlier than the date published by NSE.

Great we have all now agreed on the same thing. I hope everyone has learnt something.

megainvest:

1. If you want a dividend you should buy at least one day before the ex-div date.
2. Ex-div date is the day the stock price is adjusted (mark down). From that day forward, you no longer qualify for dividend.
3. Closure date or Record date is usually a number of days after the ex-div date and it varies. This date is set to accommodate those who bought a day to ex-div date.
4. NSE dates are mixed up. Sometimes they report qualification date, others ex-div date and others record date.
5. The terms closure date and qualification date are misused sometimes.
6. To be 100% sure and avoid confusion, always ensure you have bought the stock at least 3 days to the first quoted date.

In addition, in most cases, the closure date published by NSE is also considered as the ex-dividend date - this is wrong. Until the NSE reviews their publicized dates on corporate action of coys and institute some changes, we are advised to buy 3 days before the date on NSE website.

Proshare sometimes helps simplify it. See this example from GSK.

megainvest:
Great we have all now agreed on the same thing. I hope everyone has learnt something.

Thanks a lot for bringing up this issue on dividend dates.

why is fmn so stubborn? just wont go below 33.

Plz what the current bid and offer for fcmb?

mercylicious:
Plz what the current bid and offer for fcmb?

Offer 111,972 .. Bid 21,432, 345

hope all my friends don board fbnh and oando? see you guys at the top, dont forget me when the money comes cheers all

Meristem website currently is not displaying live feeds and I don't know the price of FBNH right now.....Please whats the current price of FBNH?

Michael11stock:
hope all my friends don board fbnh and oando? see you guys at the top, dont forget me when the money comes cheers all

Michael11stock:
hope all my friends don board fbnh and oando? see you guys at the top, dont forget me when the money comes cheers all

What is your target price for oando in 12months time ??

angelo82:
Meristem website currently is not displaying live feeds and I don't know the price of FBNH right now.....Please whats the current price of FBNH?

last price N9.80

http://www.nse.com.ng/Financial_NewsDocs/9303_ACCESS_BANK_PLC_Q1_MARCH_2015_FINANCIAL_STATEMENTS_APRIL_2015.pdf

Access bank Q1. PAT and EPS up 18%

lancee:


Offer 111,972 .. Bid 21,432, 345

thought i was the only one seeing this o.

House what's the current price for eterna, honywell and transcorp?

Thanks......

valacious:


last price N9.80

megainvest:
@Elai147,

This confusion in the NSE is the reason I raised this quiz.

NSE doesn't always quote the ex-div date and the ex-div date is NOT always the closure date stated. You have to read the corporate action document very well to know the exact date. When that date is not clearly stated, then you should target at least 3 working days before the stated closure date.

This is the reason why sometimes people get the dividend and other times they dont. It's simply because the date was not well understood. In summary of all that has been said:

1. If you want a dividend you should buy at least one day before the ex-div date.
2. Ex-div date is the day the stock price is adjusted (mark down). From that day forward, you no longer qualify for dividend.
3. Closure date or Record date is usually a number of days after the ex-div date and it varies. This date is set to accommodate those who bought a day to ex-div date.
4. NSE dates are mixed up. Sometimes they report qualification date, others ex-div date and others record date.
5. The terms closure date and qualification date are misused sometimes.
6. To be 100% sure and avoid confusion, always ensure you have bought the stock at least 3 days to the first quoted date.

No,Price is adjusted on the day the dividend is paid. For example the Gsk Share price will be adjusted on 12th of june.

slyopez:
House what's the current price for eterna, honywell and transcorp?

3,10, 3,48, 3.19 respectively

bigass:

No,Price is adjusted on the day the dividend is paid. For example the Gsk Share price will be adjusted on 12th of june.

Let's watch Total as a practical example. Today is the last qualification date for Total. Monday 20th is Ex-div date. Look out for today's closing price and Monday's opening price. Lets also watch what happens after. This should help us.

(These dates can help you decide when to exit a stock. You can actually systematically collect your dividend even before the dividend is paid.)

kingstanley:
jsmile
angelo82
jarkbauer
megainvest
bigass
born2berich

please I need a help on how stock market works, please someone should help a me on this. thanks and may God bless.

You can read previous posts and lessons by many on this thread and would learn a lot already.Bottom line though is,you still have tol learn a lot yourself depending on whether you are a shortterm(JIJO-Jump in, Jump Out),medium term or long term investor. You can also go to Morgan iTrade platform for short video that would give u an idea for online trading.

Cheers

valacious:


last price N9.80

Don dey move small small

valacious:


thought i was the only one seeing this o.

lets see if it will come down on monday

How much is Access and Uba?..........

angelo82:
How much is Access and Uba?..........

Access is 6.77 and Uba is 4.94

Thank you very much......I can't wait to exit those two stocks......Too slow in movement......

myjoy08:


Access is 6.77 and Uba is 4.94

Josh121:



What is your target price for oando in 12months time ??

50 naira atleast thanks