When any underlying stock that is part of an Index CFD goes ex-dividend, the Index CFD will be price adjusted to reflect this dividend. The weighted proportion of the applicable dividend within the Index CFD will be credited to the client's account for long positions and debited for short.
Please note that the DAX30 is a Total Return Index, meaning the index is automatically adjusted for dividends.
Index Dividend = Share Dividend * Shares in Index / Index Divisor*.
* Divisor: an amount used to stabilise the index value when its composition changes. The sum of all index members' prices is divided by the divisor to achieve the normalised index value. The divisor is adjusted when capitalisation amendments are made to the index members, allowing the index value to remain comparable at all times.
To prevent the value of an index from changing due to such an event, all corporate actions that affect the market capitalisation of the index require a divisor adjustment to ensure that the index values remain constant immediately before and after the event.