I might make myself look like a goose here but I'm just writing what I've read. So I know yesterday the 28th was the "Ex-Dividend" date hence the big drop.
However I kept returning to the fact that on Orica's own website it says the record date is 1st June 2015. So I decided to look around to clarify these 2 things.
From what the ASX's own website says the Ex-Div date is 2 business days prior to the record date. Shareholders who recieve the dividend must be listed on the register as at 5pm on the record date (which for us is June 1st 5pm).
So basically all those people who sold out yesterday thinking they were going to get the dividend are not.........
Which also made me think how many times on the Ex-Div date do we see big drops by the amount the div is worth (or often more). Why?
These people are selling out and won't get the dividend.
ORI Price at posting:
$22.10 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)