Ex- dividend date...how it works...13 Dec 2013 01:54
You have to own a share BEFORE the ex-dividend date (so with JIL the latest you could have bought' to qualify for the dividend would have been Tuesday the 10th').
The record date is usually 2 days after the ex-dividend date...so if you had bought on Tuesday that is 3 days before the record date, this is the time needed for your buy to register on their records.
The sp of any given share will usually fall by the same amount as the dividend ON THE EX-DIVIDEND DAY.
In JIL's case, this time there was an interim divi' of 10p and a special divi' of 4p, making a total dividend of 14p (which is high at 9.2%).
The mid- price on Tuesday for JIL was 152.5p and the mid- price on the EX- Dividend day was 137.5p...a drop of 15p, slightly greater than the dividend of 14p...and perhaps some nervousness at this high divi' level is reflected in the further fall on Thursday?
GLA and Best Regards,
Blue