分红的钱为什么要除权

Why Dividend Payments Need to Be Adjusted for Rights

中文：

在股票市场中，当一家上市公司宣布分红时，投资者往往会对这一消息产生浓厚的兴趣。然而，有一个重要的概念需要理解，那就是分红后股票的价格会进行除权调整。那么，为什么分红的钱要进行除权呢？

首先，我们需要了解除权的基本概念。除权是指上市公司在分红后，为了保持股票的市值不变，将股票价格进行调整的过程。简单来说，就是将分红带来的额外收益从股票价格中剔除，使股票价格反映公司真实的市场价值。

其次，除权有助于维护市场的公平性。如果分红后股票价格不进行除权调整，那么投资者在分红前后所持有的股票市值将发生变化。这意味着，在分红前买入的投资者将享有额外的收益，而分红后买入的投资者则无法获得这一收益。这样的情况下，市场就失去了公平性。

此外，除权还有助于投资者进行长期价值投资。如果投资者只关注短期的股价波动，而忽略了公司的长期价值，那么他们可能会因为分红后的股价下跌而产生恐慌，从而做出错误的投资决策。而通过除权调整，投资者可以更加清晰地看到公司的真实价值，从而进行长期价值投资。

综上所述，分红的钱要进行除权调整是为了保持股票市场的公平性和透明度，维护投资者的利益，以及促进长期价值投资。

英文：

In the stock market, when a listed company announces a dividend, investors often develop a keen interest in this news. However, there is an important concept to understand, and that is the need for adjustment for rights after dividend payments. Then, why is it necessary to adjust the dividend payment for rights?

Firstly, we need to understand the basic concept of adjustment for rights. Rights adjustment refers to the process where a listed company adjusts its stock price to maintain the market value of the stock after paying dividends. In simple terms, it is to remove the additional benefit brought by the dividend from the stock price, so that the stock price reflects the true market value of the company.

Secondly, rights adjustment helps maintain market fairness. If the stock price is not adjusted for rights after dividend payments, the market value of the shares held by investors before and after the dividend will change. This means that investors who bought before the dividend will enjoy additional benefits, while those who buy after the dividend will not receive this benefit. Such a situation would lead to a lack of fairness in the market.

In addition, rights adjustment also helps investors make long-term value investments. If investors only focus on short-term stock price fluctuations and ignore the long-term value of the company, they may panic due to the drop in stock price after dividends and make incorrect investment decisions. Through rights adjustment, investors can more clearly see the true value of the company and thus make long-term value investments.

In conclusion, adjusting dividend payments for rights is necessary to maintain fairness and transparency in the stock market, protect the interests of investors, and promote long-term value investing.