On 9/22/16, National Bank of Canada (Toronto: NA) will trade ex-dividend, for its quarterly dividend of $0.55, payable on 11/1/16. As a percentage of NA's recent stock price of $47.78, this dividend works out to approximately 1.15%, so look for shares of National Bank of Canada to trade 1.15% lower — all else being equal — when NA shares open for trading on 9/22/16.