[Special Stock] Gwangju Shinsegae Weakness After 'Ex-Dividend'

As of 9:20 a.m. on the 28th, Gwangju Shinsegae's stock price recorded 27,825 won, down 6.78% from the previous closing price. This appears to be due to the ex-dividend date falling on this day.

Earlier, on the 4th of last month, Gwangju Shinsegae announced a dividend plan totaling 16.8 billion won, with a dividend of 2,200 won per common share and a dividend yield of 7.59%. The record date for dividends is set for the 31st.

Listed companies announce that dividends will be paid to shareholders who hold shares by a specific date, called the "record date." Since it takes two business days for a stock purchase to settle, shares must be purchased at least two business days before the record date to be eligible for dividends. Therefore, a phenomenon called ex-dividend occurs, where the stock price drops from the day when buying shares no longer entitles the buyer to dividends.

Since the 28th is the ex-dividend date for Gwangju Shinsegae, the stock price is struggling to maintain strength. Gwangju Shinsegae is a subsidiary of Shinsegae, which holds a 62.84% stake.