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Chasing dividends during the COVID-19 pandemic

BP2-STS

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    01.10.2020

13

COVID-19
dividend capture
price pressure
ex-dividend date
event study
English This paper investigates the impact of the COVID-19 pandemic on the trading behavior of investors around ex-dividend dates in Europe. The sudden decrease in the number of companies paying dividends reduced the opportunities to capture dividends. The firms that have maintained dividend payments during the pandemic thus attracted more interest than before. This led to a doubling in the magnitude of stock return patterns usually observed around ex-dividend days. Our evidence indicates that dividend-seeking investors are likely to be the main driver of the price patterns observed around ex-dividend dates.
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Faculty
Faculté des sciences économiques et sociales et du management
Language
  • English
Classification
Economics
Other electronic version

Faculté SES

Series statement
  • Working Papers SES ; 520
License
License undefined
Identifiers
  • RERO DOC 329576
  • RERO R009093202
Persistent URL
https://folia.unifr.ch/unifr/documents/308999
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