I understood the Adjusted Closing Price formula as:
Closing price * (1 - (Div/Closing Price)
However using these data, if I go back say to Sep 19, 2022, I got the adjusted price by adding the last Div on Mar 13, 2023 i.e. 0.3 to the Div on Sep 19, 2022 which is 0.28. So, for Sep 15, 2022, the adjusted closing price is:
Adjusted closing price = 8.86 * (1 - (0.58/8.86)) = 8.28
This is correct and it matches with Yahoo Finance!
But if go back just before 15/9 which is Mar 16, 2022 where it had 0.3 as div, and doing the same as above but for Mar 15, 2022:
Adjusted closing price = 8.97 * (1 - (0.88/8.97)) = 8.09
But Yahoo Finance reported it as: 8.11
Any ideas where I went wrong? : /
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