Ex-Dividend Date
تاريخ الاستحقاق
The ex-dividend date is the first trading day on which a stock trades without the right to the most recently declared dividend. Investors who buy the share on or after this date are not entitled to that payment, which goes to shareholders recorded before it. On the Egyptian Exchange, the share price is typically adjusted downward by the coupon amount at the open of the ex-dividend session.
Example
If a share trades at 50 EGP and is about to pay a 2 EGP dividend, it will typically open around 48 EGP on the ex-dividend date. Nothing has gone wrong — the cash has simply moved from the company to the shareholders of record.
Why it matters
It settles who receives a declared distribution. Buy on or after the ex-date and the seller keeps that payment, which is why the date matters more than the payment date to anyone timing a purchase.
A common mistake
Buying just before the ex-date to capture the dividend. The price adjusts by roughly the dividend, so you are exchanging part of the share's value for cash rather than gaining anything.
Live example from the Egyptian market
The next cash dividend on the EGX: CI Capital Holding for Financial Investments (CICH), EGP 0.57 a share. Details →