Don't Ignore the Dividends: Australian Share Market Was Up Today (Not Down)

Most of the financial media reported that the Australian share market fell today (Thursday 7 November) by 0.2%. Various reasons were given, including that two of Australia's largest banks traded ex-dividend.

The reality is that the share market rose by 0.3%, if looked at properly.

What do I mean?

Yes, ANZ Bank (ANZ) and National Australia Bank (NAB) did trade ex-dividend today. Last week's post reported on these dividends. The share price of these banks was expected to fall today by the value of the dividends, as a seller of the shares gets to keep the dividends, and a buyer does not receive the dividends.