TAHR, page-13

TAH went ex-div on 9th March...this is the date you will see the price adjust for the impending dividend payment due some weeks after...the record date (11th March) is simply ex-div plus the T+3 settlement period allowing trades happening up to ex-div (ie exclusive) to be recorded and thus the shareholder numbers are known for dividend payouts...so, in summary, the ex-div date is the scary one where we strap in to see what the market thinks the price should be...generally it is a fairly calm drop for the grossed up dividend amount (ie dividend/0.7) but sometimes the overseas traders can cause havoc as they seem to dump in the day or two after ex-div...see Telstra for example...I don't get their strategies really but it is a factor in our lives...