How to calculate the reference price after stock ex-dividend? The key question is whether to deduct the dividend tax.

After paying the cash dividend, the ex-dividend price is calculated according to the tax-included price. Because listed companies distribute taxes at the price including tax, the tax is withheld and remitted by the tax agency, and the company pays it, but the investors have not received it.

As for the dividend of Lijiang Tourism this year, it is quite special. Yunnan Tourism Investment Co., Ltd., which issued 654.38+07 million A shares in a non-public manner, promised not to participate in this dividend.

Based on the total share capital of 99,323,048 shares at the end of 2009:

1.5/10 * 99323048/(99323048+1700000) = 0.128 yuan/share.

Ex-dividend price =18.8-0.128 = 18.672 yuan, rounded to18.67 yuan.

For details, please refer to the Announcement on the Implementation of Lijiang Tourism Dividends in 2009.

Three. The object of dividend payment

On April 4th, 20 10, a private offering of170,000 A shares was made to Yunnan Tourism Investment Co., Ltd., and the newly-added shares were registered in Shenzhen Branch of China Depository and Clearing Co., Ltd. The newly-added shares issued this time are tradable shares with limited sale conditions, and the listing date is April 20th1year, and they can be listed 36 months after the end of this issuance. According to the resolution of the company's 2009 annual general meeting of shareholders, this dividend is based on the company's total share capital of 99,323,048 shares at the end of 2009, and Yunnan Tourism Investment Co., Ltd., a new shareholder of this non-public offering, promises not to participate in this dividend.

Therefore, this dividend will be distributed to all shareholders of China Securities Depository and Clearing Co., Ltd. Shenzhen Branch (hereinafter referred to as "China Clearing Shenzhen Branch") except Yunnan Tourism Investment Co., Ltd. (holding 20 10/70,000 shares) after the Shenzhen Stock Exchange closes on the afternoon of May 7, 2000.

The dividend ex-dividend reference price of the Company = [(previous closing price-cash dividend)+share (new) price × change ratio of circulating shares ]÷ 1+ change ratio of circulating shares. Divide this cash dividend of 65,438 yuan+04,898,457.20 yuan by the total share capital of 65,438 yuan+06,323,048 shares (65,438 yuan+04,898,457.20 yuan1/kloc-