Zeev's Turnips Patch-No Politics (ZEEV)

[Huluriasquias]

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Case example: I was short DIA on 5/15/03 and covered 5/16/03, ex-dividend date is 5/16/03, record date is 5/20/03. Seems to me that if I had no position at the close on 5/16 I should not be liable but the broker says the day before is what matters.
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In your example: if the ex-dividend date is 5/16/03 that means that DIA traded "without the dividend" (that's what "ex-dividend" means) the whole day 5/16/03. That means that you are responsible for providing the dividend for being short overnight between the last day it traded with its dividend attached, (5/15/03) and the first day it traded without it. (5/16/03)

Record date is irrelevant in this case.

Note: This analysis is based in the dates you provided. I didn't check their accuracy.