As some Croatian and Slovenian companies already went ex-date, we decided to see how much the share price reacted on the dividend being separated from the share.

Share Price Reaction of Croatian & Slovenian Companies on Ex-Date

*regarding the advance dividend

Of the companies which went ex-date, one can notice that most have recorded a share price decrease on the ex-date by approximately the same amount as the dividend yield generated by their dividend. However, some have observed a higher or lower share price change than their dividend yield. Of those, Sava Re observed a dividend yield higher than the share price drop on ex-date by 2.7 p.p. NLB follows with a dividend yield higher by 2.3 p.p. higher than the share price decrease on ex-date. Next comes Kraš, with a dividend yield higher by 1.6 p.p.

On the flip side, ZABA and Arena Hospitality Group observed a higher share price decrease on ex-date compared to their dividend yield. ZABA observed a 10.3% share price decrease, which is higher by 0.9 p.p. compared to their dividend yield. Meanwhile, Arena Hospitality Group recorded a 3.8% share price decrease on ex-date, which is by 2.3 p.p. higher than their dividend yield.

Ex-Date of Observed Croatian & Slovenian companies

*regarding the advance dividend