DSP, thanks for your reply. In this paragraph it states that "you have to buy 2 days before the record date which is normally the x dividend date set by the company".
Once the company sets the record date, the stock exchanges or the National Association of Securities Dealers, Inc. fix the ex-dividend date. The ex-dividend date is normally set for stocks two business days before the record date. Purchase a stock on its ex-dividend date or after and you will not receive the next dividend payment. Instead, the seller gets the dividend. Purchase before the ex-dividend date, and you get the dividend.
I just called my ameritrade representative this morning and here is what he told me:
I just called my ameritrade representative and he read the press release on pink sheets while I was on the phone with him. He also checked the records to see if there has been an x dividend date or pay date set and there is no x date or pay date set. He said that the record date is set for 3/15/06 and that I have until close of business on the 15th to buy shares and still qualify for the dividend. He also stated that since there is no x dividend date set then the x dividend date will have to be after, usually 3 to 5 days after the record date and that the company will probably soon release the information on the pay date which could be sometime after the x dividend date.
I told him the reason I am so concerned is that the non-marginable funds were supposed to be available in my account today but they will not be available until tomorrow.
So according to the ameritrade representative we still have until tomorrow to buy ssty shares to qualify for the tpid dividend.
