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Buckey

11/24/06 9:18 AM

#6087 RE: abreako #6086

Watch the daily list - There will be a filing and it will show a record date ( not important*) and the X DATE is the key date. Dont worry about the pay date.

Own in before the X date and you must own it at the close of busienss on the day BEFORE the x date only.

Consider this scenario Italics are the news
The record date of this dividend is December 12 and the pay date is December 27 of this year


OK the NASDAQ sets the x date. It should be between the above two dates so lets pick Dec 18th.

If you buy this stock on Dec 11th and see it on the 17th you will not get the divvy. YOU must owbn it before the market opens on the 18th.

SO why the record date??? well at some point the TA actually does tally up who owns the stock BUT between the 12th and teh 18th you can seel but you sell with DUE bills atteached. The due bill being the divvy. IT will even say on the trade ticket you get in the mail.

X DATE is important.


However - the odd divvy is issued " will not be quoted x date" that means the record date is the X date.


Jim Bishop

11/24/06 12:30 PM

#6112 RE: abreako #6086

Sorry but that's wrong. Record date unless not quoted Ex is meaningless as is settlement unless you don't have enough cash in your account to settle the trade and your broker sells it off on you.

I've bought just before close day before X date on literally hundreds of them and often sold on X date and always got the divvy or split or whatever.

Rules are rules.