insane dividends

[geeps20]

Spin off divy help

There has been an ongoing debate on the USSE board in regards to a spin off company divy. The record date was announced as Dec 1. There hasn't been an ex divy or pay out date announced at all.


The question is this:

If a shareholder held shares before the record date of Dec 1, but since sold, do they still receive the divy when its paid out?

Some say yes, as long as they were a shareholder of record on Dec 1st. Others believe the divy is attached when they sell there shares before the ex divy date..and if they sell before, they do not get the divy. This is a stock divy for a spin off compnay.

Who is right?