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- First they are entered into a Back Office Interface that saves them to a database table.
- After the dividend payments are inserted into the database, the same job that insert interest payments on bond contracts picks them up and adds them to all open contracts with that particular underlying share.
Back office interface
In the back office web interface, users can insert/edit and disabled dividend payments. Users have to provide
- Symbol: market symbol of the share
- Ex Dividend Date
Calculation Date:the day on which all shares bought and sold no longer come attached with the right to be paid - Payment Date: When is the dividend payment paid out (and starts bearing interests).
- Dividend per share: Monitary value paid out per share of stock
Payments Job
The payments job has two roles. Firstly to attach interest payments to contracts with underlying bonds and secondly to attach dividend payments to contracts with underlying shares.
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The job goes through all enabled dividend payments that have CalcDate (rights dateEx Dividend Date (CalcDate in the DB) less than or equal today and attaches payments to all open forward contracts with the same underlying share and with SettlementDate less than the CalcDate.
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