{"slug":"why-stocks-drop-on-the-ex-dividend-date","qid":"ko_ex_date_trace","label":"KO: dividend per share against the realised opening drop, every ex-date 2021 to 2025","post_title":"Why stocks drop on the ex-dividend date","post_url":"/blog/why-stocks-drop-on-the-ex-dividend-date#q-ko_ex_date_trace","columns":["ex_date","ex_date_label","dividend_per_share","drop_at_open"],"rows":[{"ex_date":"2021-03-12","ex_date_label":"March 12, 2021","dividend_per_share":0.42,"drop_at_open":0.29},{"ex_date":"2021-06-14","ex_date_label":"June 14, 2021","dividend_per_share":0.42,"drop_at_open":0.47},{"ex_date":"2021-09-14","ex_date_label":"September 14, 2021","dividend_per_share":0.42,"drop_at_open":0.15},{"ex_date":"2021-11-30","ex_date_label":"November 30, 2021","dividend_per_share":0.42,"drop_at_open":0.98},{"ex_date":"2022-03-14","ex_date_label":"March 14, 2022","dividend_per_share":0.44,"drop_at_open":-0.05},{"ex_date":"2022-06-14","ex_date_label":"June 14, 2022","dividend_per_share":0.44,"drop_at_open":0.61},{"ex_date":"2022-09-15","ex_date_label":"September 15, 2022","dividend_per_share":0.44,"drop_at_open":0.39},{"ex_date":"2022-11-30","ex_date_label":"November 30, 2022","dividend_per_share":0.44,"drop_at_open":0.47},{"ex_date":"2023-03-16","ex_date_label":"March 16, 2023","dividend_per_share":0.46,"drop_at_open":0.34},{"ex_date":"2023-06-15","ex_date_label":"June 15, 2023","dividend_per_share":0.46,"drop_at_open":0.25},{"ex_date":"2023-09-14","ex_date_label":"September 14, 2023","dividend_per_share":0.46,"drop_at_open":0.2},{"ex_date":"2023-11-30","ex_date_label":"November 30, 2023","dividend_per_share":0.46,"drop_at_open":0.27},{"ex_date":"2024-03-14","ex_date_label":"March 14, 2024","dividend_per_share":0.485,"drop_at_open":0.54},{"ex_date":"2024-06-14","ex_date_label":"June 14, 2024","dividend_per_share":0.485,"drop_at_open":0.61},{"ex_date":"2024-09-13","ex_date_label":"September 13, 2024","dividend_per_share":0.485,"drop_at_open":0.39},{"ex_date":"2024-11-29","ex_date_label":"November 29, 2024","dividend_per_share":0.485,"drop_at_open":0.41},{"ex_date":"2025-03-14","ex_date_label":"March 14, 2025","dividend_per_share":0.51,"drop_at_open":1.11},{"ex_date":"2025-06-13","ex_date_label":"June 13, 2025","dividend_per_share":0.51,"drop_at_open":0.47},{"ex_date":"2025-09-15","ex_date_label":"September 15, 2025","dividend_per_share":0.51,"drop_at_open":0.33},{"ex_date":"2025-12-01","ex_date_label":"December 1, 2025","dividend_per_share":0.51,"drop_at_open":0.52}],"shape":"series","sql":"WITH\nprices AS\n(\n    SELECT\n        date,\n        open_px,\n        any(close_px) OVER (ORDER BY date ASC ROWS BETWEEN 1 PRECEDING AND 1 PRECEDING) AS prior_close\n    FROM\n    (\n        SELECT\n            date,\n            toFloat64(max(open))  AS open_px,\n            toFloat64(max(close)) AS close_px\n        FROM global_markets.stocks_daily_aggs\n        WHERE ticker = 'KO'\n          AND date >= '2020-12-01'\n          AND date <  '2026-01-01'\n        GROUP BY date\n    )\n),\nex_days AS\n(\n    SELECT\n        ex_dividend_date            AS ex_date,\n        toFloat64(max(cash_amount)) AS dividend\n    FROM global_markets.stocks_dividends\n    WHERE ticker = 'KO'\n      AND ex_dividend_date >= '2021-01-01'\n      AND ex_dividend_date <  '2026-01-01'\n      AND cash_amount > 0\n    GROUP BY ex_dividend_date\n)\nSELECT\n    toString(e.ex_date)                 AS ex_date,\n    concat(monthName(e.ex_date), ' ', toString(toDayOfMonth(e.ex_date)), ', ', toString(toYear(e.ex_date))) AS ex_date_label,\n    round(e.dividend, 4)                AS dividend_per_share,\n    round(p.prior_close - p.open_px, 2) AS drop_at_open\nFROM ex_days AS e\nINNER JOIN prices AS p ON p.date = e.ex_date\nWHERE p.prior_close > 0\nORDER BY e.ex_date","computed_at":"2026-08-14T15:02:40.614834+00:00","elapsed":0.003248275}