Dividend
A share of company profit paid out to shareholders. On the ex-date the share price is adjusted by its value — buying for the dividend is not free money.
Definition
A dividend is a distribution of part of a company’s profit to its shareholders, usually in cash, in the amount attributable to one share. Two dates matter: the record date that establishes the right to the dividend, and the ex-date — the day from which buying the share no longer entitles you to the payout, with the price adjusted by the dividend amount.
Example
A company pays a dividend of 2 PLN per share. On the ex-date the price “opens” roughly 2 PLN lower — that is a technical adjustment, not a loss. Over the long term what counts is the dividend yield and the stability of earnings, not “catching” a single payout.
Anti-example / common mistake
“I am buying before the ex-date because I will receive the dividend” — with no analysis of the yield or its stability. On the ex-date the price is adjusted; if you were only after a “bonus”, you are simply buying the stock for its volatility.