Daftar Isi:
  • The main objective of this study was to examine the effect of dividend announcements on stock prices before and after the ex - dividend date. Population in this study using the companies listed in Indonesia Stock Exchange property and manufacturing sectors in the period 2009-2012. Sampling technique conducted with a purposive sampling method based on specified criteria. This study uses SPSS application. Analysis of the data in this study consisted of descriptive analysis and paried test sample t-test. Results of the study showed that the t test Abnormal Return before the ex dividend date is not higher than Abnormal Return after the ex dividend date. Keywords : Ex – dividen date, return saham