MAGS and PATI both dipped premarket. Figured they would as most traders don't know about the special dividend rule. The record date is meaningless. Instead everyone holding on the payment date gets the dividend. Might present a buying opportunity this week.
Special dividend rules-
If a special dividend is less than 25% of the stock price, standard rules apply regarding the ex-dividend date (ex-date is before the record and pay date). However, if a special dividend is greater than 25% of the stock price*, the ex-dividend date will be after the record date and pay date.
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