Rand, strike hit S.African stocks, Telkom dives

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http://www.reuters.co.za/locales/c_...=businessNews&localeKey=en_ZA&storyID=8904308
Rand, strike hit S.African stocks, Telkom dives
Mon June 27, 2005 6:16 PM GMT+02:00
JOHANNESBURG (Reuters) - South African stocks lurched lower on Monday as a stronger rand and a national strike bashed some mining stocks, and investors dumped fixed-line phone company Telkom ahead of a bumper dividend payout.
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Telkom was the biggest loser on the day, tumbling 8.2 percent to 105.02 rand as it traded ex dividend. The company is due to pay a four-rand annual dividend on July 8 plus a special dividend of five rand.
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:D
 
Telkom was the biggest loser on the day, tumbling 8.2 percent to 105.02 rand as it traded ex dividend. The company is due to pay a four-rand annual dividend on July 8 plus a special dividend of five rand.
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Unfortunately this isn't anything particular to Telkom. As soon as a stock goes ex-dividend (ie. person buying after that time, will not receive the coming dividend) the price of the stock will fall by approx the amount of the divident, R9 in this case.
 
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