That is incorrect. Dividend dates have nothing to do with trade settlements, they have to do with dates set by the company well before the dividend date called ex-dividend dates.
And in fact, if you buy on the day before the ex-dividend date, you will get the dividend. That is a known fact. It has nothing whatsoever to do with trade settlement dates.
Much as a court settlement has absolutely nothing to do with trade settlement dates. If you own the stock, you own it, period.
Let's put this discussion to an end. If anyone, anyone, anywhere, can post any kind of verifiable record indicating that in the case of a bankrupt company that ended up coming out of bankruptcy, or that ended up paying out to commons, that there was ONE SINGLE INSTANCE of commons not getting paid because they bought less than 3 days before the settlement and did not get paid, POST IT.
It is nothing but a scare tactic. Don't buy into it.
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