MOEX Dividends: two tested setups
Level:
Short version for experts: tables, lists and screenshots only.
Words in this lesson (3)
Gap — A jump in price: today trading opened noticeably higher or lower than it closed yesterday. Closed at 100 yesterday, opened at 108 today — an 8% gap up.
Screener — A filtering program: it scans hundreds of stocks or coins and shows only those that match the given criteria.
Dividend — A part of the company's profit that it pays out to shareholders.
Three dates you need to understand
- The announcement. The board of directors recommends a dividend. It's not a decision yet: the shareholders' meeting may not approve it.
- The last day with the dividend ("Buy by"). The Moscow Exchange works on T+1 — settlement on the next business day. To get onto the register, you need to buy the stock no later than one business day before it closes.
- Gap day. The first trading day without the dividend. The price opens lower — by the size of the dividend gap.
The screener calculates these dates by itself. The "Buy by" column is the last day when buying gives you the right to the payout.