Prepared by A-J | Author brand: 盡職生活｜阿J的普通人理財筆記
About the author/site · Vocus @WUCJ ↗ · Editorial policy
Page version: 2026-08-16 | Official or primary sources are preferred for material rules and figures. AI may assist structure, translation, and code, but is not used as the sole factual source.
About the author/site · Vocus @WUCJ ↗ · Editorial policy
Page version: 2026-08-16 | Official or primary sources are preferred for material rules and figures. AI may assist structure, translation, and code, but is not used as the sole factual source.
Beginner principle: Understand the mechanics and risks before buying. Knowing orders, settlement, and costs matters more than finding a hot tip.
The reference price adjusts on the ex-dividend date
TWSE investor education explains that the ex-dividend reference price reflects the prior close adjusted for the cash dividend and related rights.
You must hold before the ex-date for that entitlement
Purchases on or after the ex-date do not receive that distribution or rights issue; actual schedules follow company announcements.
Dividends do not create free wealth
A distribution transfers corporate value to shareholders, so both company value and market price can reflect the payout.
Use total return
Comparing yield alone ignores price changes. Long-term evaluation should combine capital gains/losses and distributions.
What to learn next
- No account yet: start with the account-opening guide
- Planning to buy ETFs: learn fund structure and premiums/discounts
- Considering leverage: first understand margin and stock-backed borrowing risks
Primary / official sources
General investing education only. Market rules and fees can change; use current exchange, regulator, and broker disclosures.