1 PEMBELANJAAN PERUSAHAAN LECTURE 8 – DIVIDEND DECISION

PP-/MB-IPB/10 2 RETURN TO SHAREHOLDER DIVIDEND STOCK SPLIT STOCK REPURCHASE STOCK CASH

PP-/MB-IPB/10 3 Date of Record. The date on which investors must own shares in order to receive the dividend payment. Ex Dividend Date. Four days prior to the date of record. The day on which a stock trades ex dividend (exclusive of dividends). In the financial press. Transactions in the stock on the ex dividend date are indicated by an “x” next to the volume of transactions. In general, stock prices fall by an amount equal to the quarterly dividend on the ex dividend date. Cash Dividend Process

PP-/MB-IPB/10 4 Distribution Date. The day on which a dividend is paid (payment date) to stockholders. It is usually two or more weeks before stockholders who owned shares on the date of record receive their dividends. Cash Dividend Process Date of Record Distribution Exclusive Dividend Declaration 2 – 3 weeks4 days2 – 3 weeks

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