Australia and New Zealand edit Australia and New Zealand have a dividend imputation system, wherein companies can attach franking credits or imputation credits to dividends.
If money couldn't be extracted directly or indirectly out of Microsoft, only a fool would have bought the stock. In some cases, the shareholder might not need to pay taxes on these re-invested dividends, but in most cases they.
Of that 11,635,807 in approximate dividend income you would have earned, the first dividend wasn't paid until February 19th, 2003, at which points regular dividends began. If a holder of the stock chooses to not participate in the buyback, the price of the holder's shares could rise (as well as it could fall but the tax on these gains is delayed until the sale of the shares.
Ex-dividend date the day on which shares bought and sold no longer come attached with the right to be paid the most recently declared dividend. Effect on stock price edit After a stock goes ex-dividend (i.e.