红利后为何股价常常下跌？

中文段落：

红利是上市公司将其盈利的一部分以现金或股票的形式返还给股东的行为。然而，许多投资者会发现，在公布红利后，股价往往会出现下跌。这一现象常常令人困惑，为何红利这一看似利好的消息会导致股价下跌呢？

首先，我们要明白股价的涨跌是由市场供求关系决定的。当上市公司宣布发放红利时，实际上是将公司的部分资产转移给了股东。这意味着公司的资产净值将减少，从而可能导致股价的下跌。

其次，红利发放后，股东手中的现金增加，而现金的流动性要高于股票。因此，部分股东可能会选择将股票卖出，转换为现金，以满足其他投资或消费需求。这种卖出行为增加了市场的供应压力，进一步推低了股价。

此外，投资者对于红利的期望也会影响股价。如果公司宣布的红利低于市场预期，投资者可能会对公司的未来盈利能力和发展前景产生疑虑，从而选择卖出股票，导致股价下跌。

总的来说，红利后股价下跌的原因主要包括公司资产净值的减少、股东卖出股票以及投资者对红利的期望未达到预期等因素。投资者在理解这些因素后，可以更好地把握红利后的市场走势，做出更明智的投资决策。

英文段落：

Dividends are a form of reward given by listed companies to their shareholders, either in cash or stock, from a portion of their profits. However, many investors observe that after the announcement of dividends, the stock price often experiences a decline. This phenomenon can be puzzling, as dividends seem like a positive news that would increase the stock price.

Firstly, it is important to understand that the rise and fall of stock prices are determined by market supply and demand. When a listed company declares dividends, it is effectively transferring a portion of its assets to its shareholders. This reduction in the company's net asset value can potentially lead to a decrease in stock price.

Secondly, after the payment of dividends, shareholders have more cash in their hands, which is more liquid than stocks. Consequently, some shareholders may choose to sell their stocks and convert them into cash to meet other investment or consumption needs. This selling behavior adds to the supply pressure in the market, further pushing down the stock price.

Moreover, investors' expectations regarding dividends also affect stock prices. If the dividends declared by the company fall below market expectations, investors may doubt the company's future profitability and development prospects, leading them to sell their stocks and causing a decline in the stock price.

In conclusion, the reasons for the decline in stock price after dividends mainly include the reduction in the company's net asset value, shareholders selling their stocks, and investors' expectations not meeting market expectations. By understanding these factors, investors can better grasp the market trend after dividends and make more informed investment decisions.