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Author: whatismyoption Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 8093  
Subject: Dividend Adjustment Date: 9/13/2006 6:38 AM
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OHI – has not had the latest dividend reflected in my start price.
OHI start 12.35 Opening 28/06/06

The Company's Board of Directors announced today a common stock dividend of $0.24 per share, to be paid August 15, 2006 to common stockholders of record on July 31, 2006. At the date of this release the Company had approximately 59 million outstanding common shares.
http://www.omegahealthcare.com/ireye/ir_site.zhtml?ticker=OHI&script=410&layout=8&item_id=882854

I need all the help I can get with my score and that 24 cents is a good start.
Yahoo has used 23 cents to adjust.

Cheers
Dean
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Author: RafesUserName Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2521 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 3:58 AM
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I would be surprised if Yahoo adjusted the price of it's share based on dividends. The share price should have nothing to do with a dividend payout, except in calculating the dividend you are owed.

However, I was about to ask if dividends are used in scoring a players returns. Income investors would feel left out otherwise.

- Rafe

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Author: RafesUserName Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2522 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 4:00 AM
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Ack... from the help section in CAPS:

Are dividends applied to CAPS picks?
Currently dividends are not factored into player scores for picks. However, we are working on adding this feature very soon


I look forward to this one. I can see there will be complexities, such as checking to see if the pick was made at the right time and judging how to adjust the score. Mainly because this score adjustment would probably have to be stored locally for the player because the dividend payout isn't a community wide event.

- Rafe

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Author: whatismyoption Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2524 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 6:36 AM
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Rafe
Be prepared to be surprised http://au.finance.yahoo.com/q/hp?s=OHI
Look at the column on the right, adjusted close, yahoo shows the adjusted price. I know that is not what you meant when you said surprised, but there it is.

Yes, dividends are meant to be used in the scoring, past posts pointed to this starting a month or two back via adjusting the starting price.
If you search on dividend you can find the posts.

cheers
Dean

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Author: RafesUserName Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2525 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 6:53 AM
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So the price is just permenantly offset by the per share yield? It's so simple! =D

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Author: RafesUserName Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2526 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 6:57 AM
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This probably isn't the best place for this question, but why would they adjust the price of the share for a dividend. Wouldn't that be like getting 2x the dividend? Once as cash then again as a share increase? Or is the price change caused by DRIP dilution or something more complex. Perhaps this is simple and I'm just missing the point?

Cheers,

Rafe

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Author: whatismyoption Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2527 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 9:03 AM
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How the hell did that thread above this one magically appear? I swear it wasn't there before I posted.

Dean
Going blind again

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Author: TMFGebinr Big gold star, 5000 posts Old School Fool Supernova Phoenix 1
Mission Team Member CAPS All Star SC1 Red Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2528 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 9:09 AM
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why would they adjust the price of the share for a dividend

Hi Rafe,

Actually, that happens in real life, too. Usually not seen with the small per share dividends (some number of cents) because it's lost in the day's trading noise, but if you look at large dividends (such as Ameritrade's $6 per share one in late January http://finance.yahoo.com/q/bc?s=AMTD&t=1y) you'll see the price drop as a consequence of paying out the dividend.

Think of it like this. On the day before the dividend is paid, the company is worth the market cap, which includes cash, right? On the day the dividend is paid, the cash is sent to the shareholders, so the company no longer has that cash. Thus the market cap goes down. The markets actually make this adjustment on the ex-div date, but the principle is the same.

However, if you take all the split-adjusted dividends a company has paid out over its lifetime, you can end up with the odd situation of having a starting price of $0.00 per share. That means you've completely recovered your investment just from receiving dividends. This is what is shown in Yahoo!'s historical adjusted prices that whatismyoption linked to.

Cheers,
Jim

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Author: TMFKnave Three stars, 500 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2531 of 8093
Subject: Re: Dividend Adjustment Date: 9/14/2006 9:37 AM
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Just to clarify, we had planned on launching dividends, but we encountered some unexpected complexities. It's top on our list for getting in, however, so hopefully soon!

Todd

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Author: DutchMark Big gold star, 5000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2571 of 8093
Subject: Re: Dividend Adjustment Date: 9/15/2006 9:16 AM
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I did make a few picks based on the dividend they pay. I wanted to add more, but held off because it wasn't accounted for yet. If I add those picks now, will they be readjusted retroactively with respect to dividend paid?

Mark


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