Brown, Philip; Walter, Terry - In: Australian Journal of Management 11 (1986) 2, pp. 139-152
In North America, on the day a stock has first been quoted ex-dividend, its price has tended to fall by less than the … amount of the dividend. Australian dividends likewise have been discounted, by about 25% relative to capital gains … price behaviour extends before and after the ex-dividend day, and has implications for time-related anomalies observed for …