I don't know, I'm just repeating what I read. I'll go find the link again. My only guess is that it forced you to hold at least one day after it was paid. Why? Beats me. I'll find that link and post it.
"Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date)."
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