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THE DIVIDEND'S ADJUSTMENT

The payments paid to the Company's shareholders are called dividends. They are quarterly (or once in a half-year; once a year) are announced by the Board of the directors and charged to the shareholders at the appointed day known as the date of record. The dividends' volume can vary due to the some restrictions specified in the Charter of the corporation or in its documents, given to the creditors. The payments of the dividends to the shareholders (transfer of means into the bank accounts, dispatch of checks by mail, etc.) is made in the day called payments date.

To reveal the shareholders applying for the dividends' reception the ex-dividend date is appointed. As the time required for the transfer of the property right under the ordinary share, the stock exchanges appoint the ex-dividend date before the date of record. The investors, who bought the shares before the ex-dividend date, gain the right for the dividends; and the one who has bought them in the ex-dividend date or later, does not receive the rights for the dividends.

Unlike corporate share holders, the CFDs holders do not receive dividends. While the fulfilment of the trading operations under the CFD only the so-called dividend adjustments is taken into account. Updating occurs in a presence of the open positions on the date of shareholder's list fixing ex-dividend date. In case the opened position is for buy, the dividend adjustment is added to the trading account, if the position is for sale the dividend adjustment will be withheld.

For example, Microsoft declares a quarterly dividends payment on December, 8, 2004 in a rate of 0.08 USD on one share. Thus the date of record is appointed on Thursday, February, 17, 2004, and ex-dividend date on Tuesday, February, 15.

If before the American stock exchange opening on February, 15, the Client has an opened position under *MSFT for buy in 1 lot volume (one thousand shares), the following amount: 0.08*1000=80 USD will be added. If the Client has an open position for ssale the amount of 80 USD will be withheld from his trading account.

The calendar of dividends payments of the companies, whose actions are the basic actives for the CFD tools are presented in the table:

The company Ex-dividend date
(ex-dividend date)
Payment date
(payment date)
Dividend's volume
on 1 share, USD
Payments' periodicity
AA 08.11.2016 25.11.2016 0.09 Quarter
AXP 04.01.2017 10.02.2017 0.32 Quarter
BA 08.11.2016 02.12.2016 1.09 Quarter
BAC 30.11.2016 30.12.2016 0.075 Quarter
CAT 20.10.2016 19.11.2016 0.77 Quarter
CSCO 03.10.2016 26.10.2016 0.26 Quarter
CVX 16.11.2016 12.12.2016 1.08 Quarter
DD 10.11.2016 14.12.2016 0.38 Quarter
DIA 18.11.2016 12.12.2016 0.5330 Mounth
DIS 10.12.2015 11.01.2016 0.71 Annual
GE 15.09.2016 25.10.2016 0.23 Quarter
HD 29.11.2016 15.12.2016 0.69 Quarter
HPQ 12.12.2016 04.01.2017 0.1327 Quarter
IBM 08.11.2016 10.12.2016 1.40 Quarter
INTC 03.11.2016 01.12.2016 0.26 Quarter
JNJ 18.11.2016 06.12.2016 0.80 Quarter
JPM 04.10.2016 31.10.2016 0.48 Quarter
KO 29.11.2016 15.12.2016 0.35 Quarter
MCD 29.11.2016 15.12.2016 0.94 Quarter
MMM 16.11.2016 12.12.2016 1.11 Quarter
MRK 13.12.2016 09.01.2017 0.47 Quarter
MSFT 15.11.2016 08.12.2016 0.39 Quarter
PFE 08.11.2016 01.12.2016 0.30 Quarter
PG 19.10.2016 15.11.2016 0.6695 Quarter
QQQ 16.09.2016 31.10.2016 0.2939 Quarter
SPY 16.09.2016 31.10.2016 1.0821 Quarter
T 06.01.2017 01.02.2017 0.49 Quarter
TRV 07.12.2016 30.12.2016 0.67 Quarter
UNH 30.11.2016 13.12.2016 0.625 Quarter
UTX 16.11.2016 10.12.2016 0.66 Quarter
VZ 06.01.2017 01.02.2017 0.5775 Quarter
WMT 07.12.2016 03.01.2016 0.50 Quarter
XOM 08.11.2016 09.12.2016 0.75 Quarter

Note: the dividends additions/deductions according to the calendar of the dividends adjustment is not made on the demo accounts.

Last update of the Dividends' calendar: December 03, 2016.

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