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# OneBeacon Insurance Group, Ltd. Message Board

• job_xxxv_16 job_xxxv_16 Jun 15, 2011 4:51 PM Flag

## Price Change % Math

If last night's close was \$14.75, and today's close was \$13.13, isn't that a change of -11 rather than -3% as Yahoo! shows? Is this new math?

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• elvisbeatlesfan is right. It went ex-dividend today (the 15th). Here's how the math works on the x-date: "For example, a stock that pays a dividend of fifty cents per quarter and trades at \$10.00 on the last trade of the day before the ex-dividend date will then have that closing price adjusted down at the open the next trading day (the ex-dividend date) to \$9.50. The fifty cent dividend is no longer available to buyers on the ex-dividend date, so that amount is deducted from the stock's price. Theoretically, and indeed commonly in practice, the stock will not open at exactly \$9.50, because market forces may drive the price higher or lower, but in any case, the dividend-adjusted price of \$9.50 will remain as the basis upon which the daily change is calculated. If, for example, the opening price is \$9.00, the daily change at that point will be down \$.50. Indeed the price is a full dollar less than the closing price of the previous day, but because of the adjustment for the dividend, in reality the value has changed only fifty cents."

That's from http://groupssa.com/understandingdividenddates.html

• I believe it went Ex-dividend today

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