A dividend is a payment made by a corporation to its shareholders as a distribution of profits, in accordance with the number of shares held. The Client agrees that if he has open positions in a particular share on the ex-dividend date, the amount equal to the dividend value of the trading instrument will be credited or deducted to/from the trading account in the “Swap” column. The amount of accrual/deduction will be calculated by the formula: Position volume in lots * contract size * dividend amount. The Client also acknowledges that if he has a BUY position, dividends will be credited to the trading account, and if he has an open SELL position, dividends will be written off. Relevant information about the dividend accrual dates is published on the Company’s website in the “Company News” section on a weekly basis.