Coca-Cola (KO): overnight decline vs dividend on each ex-dividend date, Sep 2023 to Jun 2026
Answered against 22 years of US equities and 12 years of US options data and published with the query that produced it. This result is stored as of 2026-08-01, from Does Dividend Capture Actually Work?.
| date | dividend_usd | overnight_decline_usd | decline_minus_dividend_usd |
|---|---|---|---|
| 2023-09-14 | 0.46 | 0.2 | -0.26 |
| 2023-11-30 | 0.46 | 0.27 | -0.19 |
| 2024-03-14 | 0.485 | 0.54 | 0.055 |
| 2024-06-14 | 0.485 | 0.61 | 0.125 |
| 2024-09-13 | 0.485 | 0.39 | -0.095 |
| 2024-11-29 | 0.485 | 0.41 | -0.075 |
| 2025-03-14 | 0.51 | 1.11 | 0.6 |
| 2025-06-13 | 0.51 | 0.47 | -0.04 |
| 2025-09-15 | 0.51 | 0.33 | -0.18 |
| 2025-12-01 | 0.51 | 0.52 | 0.01 |
| 2026-03-13 | 0.53 | 0.14 | -0.39 |
| 2026-06-15 | 0.53 | 1.54 | 1.01 |
- Rows × columns
- 12 × 4
- Period covered
- to
- Computed
- Completeness
- No missing values
- Source
- US exchange, SIP and OPRA market data
- Licence
- Strasmore terms · free, no signup
What each column holds
| Column | Type | Range | Notes |
|---|---|---|---|
date |
date | 2023-09-14 to 2026-06-15 | |
dividend_usd |
number | 0.46 to 0.53 | US dollars |
overnight_decline_usd |
number | 0.14 to 1.54 | US dollars |
decline_minus_dividend_usd |
number | -0.39 to 1.01 | US dollars |
Computed from Strasmore's warehouse of US exchange, SIP and OPRA market data. Equity prices are delayed; options greeks and implied volatility are end-of-day. This result is stored, not recomputed on load — it is exactly the numbers that were returned on , and the query below is what returned them.
the exact SQL behind every number
WITH px AS (
SELECT date,
toFloat64(open) AS day_open,
lagInFrame(toFloat64(close)) OVER (ORDER BY date
ROWS BETWEEN 1 PRECEDING AND CURRENT ROW) AS prev_close
FROM global_markets.stocks_daily_aggs
WHERE ticker = 'KO'
AND date BETWEEN toDate('2023-06-01') AND toDate('2026-06-30')
AND open > 0 AND close > 0
),
dv AS (
SELECT ex_dividend_date AS d, max(cash_amount) AS div_amount
FROM global_markets.stocks_dividends
WHERE ticker = 'KO'
AND distribution_type = 'recurring'
AND cash_amount > 0
AND ex_dividend_date BETWEEN toDate('2023-07-01') AND toDate('2026-06-30')
GROUP BY d
)
SELECT formatDateTime(px.date, '%Y-%m-%d') AS date,
round(dv.div_amount, 3) AS dividend_usd,
round(px.prev_close - px.day_open, 3) AS overnight_decline_usd,
round((px.prev_close - px.day_open) - dv.div_amount, 3) AS decline_minus_dividend_usd
FROM px
INNER JOIN dv ON px.date = dv.d
ORDER BY date
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