Investment profit and loss
Calculate a completed or hypothetical trade's net gain after entered costs. Enter the actual number of shares or asset units.
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Ex-dividend reference price
Estimate a theoretical reference price after cash dividends and free bonus shares. Enter the number of shares held rather than stock lots.
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Theoretical ex-dividend / bonus-share reference price
86.36TWD/share
A theoretical price adjustment does not guarantee profit or dividend recovery. Only cash dividends and free bonus shares are included, not paid rights issues.
Bonus shares (fractional shares not adjusted)100 shares
Total shares after bonus issue1,100 shares
Cash dividend before tax5,000 TWD
Theoretical share value plus cash dividend100,000 TWD
Without a paid rights issue, theoretical reference price = (previous close − cash dividend per share) ÷ (1 + bonus shares per thousand ÷ 1000). Bonus shares = shares held × bonus ratio, retaining fractions. Fractional-share handling, taxes, fees and trading-lot rounding are excluded. Applies only to cash dividends and free bonus shares; paid rights issues, capital reductions and other corporate actions are unsupported. This is not the actual opening price, a dividend-recovery forecast or investment income.
Method and scope
With no paid capital increase, reference price equals (previous close minus cash dividend) divided by (1 plus bonus shares per 1,000 divided by 1,000). Bonus shares equal existing holdings times that share-distribution ratio.
The reference price adjusts for the distributions in this simplified model. It is not a prediction of the opening price or dividend recovery.
Bonus shares retain fractional results without lot or fractional-share settlement adjustments. Paid capital increases, capital reductions, taxes, fees and other corporate actions are outside scope; confirm Taiwan exchange and company notices.
References:TWSE: ex-dividend and bonus-share reference price formula
What this helps you do
Estimate a theoretical reference price after cash dividends and free bonus shares. Enter the number of shares held rather than stock lots.
What to enter
Start with closing price before distribution (twd per share), then fill the other relevant fields in the units shown. The field hints explain the required format and examples.
How the calculation works
With no paid capital increase, reference price equals (previous close minus cash dividend) divided by (1 plus bonus shares per 1,000 divided by 1,000). Bonus shares equal existing holdings times that share-distribution ratio.
Worked example
A TWD 60 close, TWD 2 cash dividend and 100 bonus shares per 1,000 give a reference price of about TWD 52.7273. Holding 1,000 shares produces 100 bonus shares before settlement rules.
Understanding the answer
The reference price adjusts for the distributions in this simplified model. It is not a prediction of the opening price or dividend recovery.
Scope and limitations
Bonus shares retain fractional results without lot or fractional-share settlement adjustments. Paid capital increases, capital reductions, taxes, fees and other corporate actions are outside scope; confirm Taiwan exchange and company notices.