Ex-dividend

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Woodford glossary

Home > Investing > Terms Glossary > Ex-dividend

Funds that distribute income do so regularly – sometimes yearly, sometimes half-yearly, quarterly or monthly. In the case of the LF Woodford Equity Income Fund, income is distributed quarterly.

Income that is received by the fund from its underlying portfolio holdings is reflected in the fund’s net asset value until it becomes due to be paid out. That date is known as the ex-dividend (XD) date. When a fund goes ex-dividend, all of the income that has been received by the fund since its last XD date that is due to be paid out to holders of the income share class, is removed from the fund’s net asset value and paid to those shareholders on the pay date, which is typically several weeks after the ex-dividend date.

Individual company shares also have ex-dividend dates – this is the date at which a pre-announced dividend becomes due to shareholders, with payment typically following several weeks later.

Woodford Investment Management Ltd is authorised and regulated by the Financial Conduct Authority (firm reference number 745433). Incorporated in England and Wales, company number 10118169. Registered address 9400 Garsington Road, Oxford OX4 2HN.

Woodford Patient Capital Trust plc is incorporated in England and Wales, company number 09405653. Registered as an investment company under section 833 of the Companies Act 2006. Registered address Beaufort House, 51 New North Road, Exeter, EX4 4EP.

The Woodford Funds (Ireland) ICAV (the “Fund”) has appointed as Swiss Representative Oligo Swiss Fund Services SA, Av. Villamont 17, 1005 Lausanne, Switzerland. The Fund’s Swiss paying agent is Neue Helvetische Bank AG. All fund documentation including, Prospectus, Key Investor Information Documents, Instrument of Incorporation and financial reports may be obtained free of charge from the Swiss Representative in Lausanne. The place of performance and jurisdiction for all shares distributed in or from Switzerland is at the registered office of the Swiss Representative. Fund prices can be found at www.fundinfo.com.

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