RetireJapan

I hold 1348 in SBI and have been shown the below message as important information to be aware of.
I normally have no problem reading Japanese but the meaning and implications of this evade me. Would appreciate any explanations and suggestions of what if anything shuold be done. Thanks!

ＭＡＸＩＳトピックス上場投信 1348 権利付最終売買日 7/10 権利
落ち日7/11 計算期間の終了、収益分配落
※権利付き最終日と権利落ち日を跨ぐ「期間指定注文」は、原則受付できないように抑止しております。 ただし、当社にて権利確定情報が確認できるまでは、権利付き最終日と権利落ち日を跨ぐ期間指定注文は受付しておりますので、 当該権利付き最終日と権利落ち日を跨ぐ期間指定注文につきましては、権利付き最終日の夕刻に繰越処理が行えずに失効となりますのでご注意ください。

It seems to be saying if you don't buy the stocks by the 10 July you won't be eligible for the dividend (on 16 July).

The ※ part I can't make out clearly. I think to prevent people mistakenly trying to buy in too late to get the dividend, they say they don't accept orders for the stock during that time (10-11 July). But in some cases (not sure exactly what, "until they have the information to determine the rights"), they will accept the order, but it will ultimately fail. Something like that??

Sounds like if you're just holding, you don't have to worry about it. Maybe don't make any trades on 10 or 11 July.

Thanks for the explanation, Adamu. Nothing too serious then.

Oh that's actually good news!
I'll try to invest in it before July 10th so that I can get the dividend too!

The dividend is paid out from the assets of the fund, so the value of the ETF should drop by the equivalent amount. If you're putting it in a NISA you might want to buy it after it drops rather than getting the dividend so you can make more of your allowance

Kiyora999 wrote: ↑Tue Jul 03, 2018 8:46 am Oh that's actually good news!
I'll try to invest in it before July 10th so that I can get the dividend too!

fools_gold wrote: ↑Thu Jul 05, 2018 12:33 am The dividend is paid out from the assets of the fund, so the value of the ETF should drop by the equivalent amount. If you're putting it in a NISA you might want to buy it after it drops rather than getting the dividend so you can make more of your allowance

Kiyora999 wrote: ↑Tue Jul 03, 2018 8:46 am Oh that's actually good news!
I'll try to invest in it before July 10th so that I can get the dividend too!

I didn't know that... Thank you for the advice!

Will the difference be so huge though? Because if I buy it in NISA, I won't pay taxes on the dividends, so I'm wondering if the benefit would be more or less the same of not...

Kiyora999 wrote: ↑Fri Jul 06, 2018 2:56 am

fools_gold wrote: ↑Thu Jul 05, 2018 12:33 am The dividend is paid out from the assets of the fund, so the value of the ETF should drop by the equivalent amount. If you're putting it in a NISA you might want to buy it after it drops rather than getting the dividend so you can make more of your allowance

Kiyora999 wrote: ↑Tue Jul 03, 2018 8:46 am Oh that's actually good news!
I'll try to invest in it before July 10th so that I can get the dividend too!

I didn't know that... Thank you for the advice!

Will the difference be so huge though? Because if I buy it in NISA, I won't pay taxes on the dividends, so I'm wondering if the benefit would be more or less the same of not...

The difference in theory(assuming efficient markets, which is really a poor assumption) should be exactly the same. Since it's an ETF it just trades for the net asset value plus or minus speculation. That price will include the value of dividends it is turning out. And after those dividends are payed out, in theory the perceived value should be exactly the price minus dividends.

So buying it now would mean wasting part of your tax free slot because you'd use it, then the value would go down by the amount of dividends and you'd have that cash back in hand.

E.g. say you bought 100,000 of it and got 2000 dividends? The value after dividends would probably be 98,000 but you'd still have used 100,000 of your nisa allowance and you'd have 2000 in cash.

To know what would actually happen you need to go into behavioral economics and speculate on the behavior of the investors. Basically it's a crapshoot and it could go either way. One thing that's for sure is that if it was a surefire way to make money, everyone would do it. But they don't, because that would drive the price way up and just make you lose money because you're buying something way overvalued.

@Jcc:
Oh I see ! Thank you very much for the explanation ! I'll wait a few days after the dividend is paid then to get back to a "normal" price^^
That's true that if it was the case, everyone would buy high dividend stocks a few days before and resell them right after the dividend is paid