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In order to be a shareholder of record on the RECORD DATE you must own the shares on that date (when the books close for that day). Since virtually all stock trades by brokers on exchanges are settled in 3 (business) days, you must buy the shares at least 3 days before the RECORD DATE in order to be the shareholder of record on the RECORD DATE. So the (RECORD DATE - 3 days) is the day that the shareholder of record needs to own the stock to collect the dividend. He can sell it the very next day and still get the dividend.
If you bought it at least 3 business days before the RECORD date and still owned it at the end of the RECORD DATE, you get the dividend. (Even if you ask your broker to sell it the day after the (RECORD DATE - 3 days), it will not have settled until after the RECORD DATE so you will own it on the RECORD DATE.)
So someone who buys the stock on the (RECORD DATE - 2 days) does not get the dividend. A stock paying a 50c quarterly dividend might well be expected to trade for 50c less on that date, all things being equal. In other words, it trades for its previous price, EXcept for the DIVidend. So the (RECORD DATE - 2 days) is often called the EX-DIV date. In the financial listings, that is indicated by an x.
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That's right, as of today it has passed. Anyone who slipped up and sold today is a complete idiot. Better them than me!!! Posts: 15 | From: Orlando, FL., USA | Registered: Feb 2004
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quote:Originally posted by BigChris7709: That's right, as of today it has passed. Anyone who slipped up and sold today is a complete idiot. Better them than me!!!
Chris besides referring back to the press release. What is your main investment "reason" for Barpoint? I mean you are claiming long term PPS of upwards to $4? WHY? Or are you another empty poster? Who makes outrageous claims and simply has nothing to back them up. Carry on now with your empty propaganda. - Marty
quote:Originally posted by BigChris7709: That's right, as of today it has passed. Anyone who slipped up and sold today is a complete idiot. Better them than me!!!
FYI - You had to of bought BPNT as of 2.13 to be eligible for the dividends being offered. -
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FYI - To all those that sold prior to March 2nd 2004:
"The ex-dividend date is set the first business day after the stock dividend is paid(3.2.2004).
If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid." - SEC website*
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