DD Support Board and Research Team

[CGardener]

dividend record dates are a matter of state law. stock dividends don't have to be approved by shareholders under state law. all of the state laws I'm familiar with do NOT allow a dividend record date to precede the board's action setting a record date. (in other words, if the board resolution was dated TODAY the record date could not be YESTERDAY). the question is whther you can set a record date before you inform FINRA/file the necessary FINRA paperwork. most practitioners I know of believe the answer is "yes".

all that being said, in looking at the terminology they use in the PRs it's hard to tell what they have/haven't done in terms of actually setting a record date. they mix a number of concepts.