Furthermore, investor only needs to own the stock for one day to be entitled to receive the dividend payment.
If the investor buys before the ex-dividend date, and sells on the ex-dividend date or after, the investor will receive the dividend payment.
The ex-dividend date is the most important date in dividend investing, since it determines who and who isn't eligible to receive the dividend.
This is an important date for any company that has many stockholders, including those that trade on exchanges, as it makes reconciliation of who is to be paid the dividend easier.
It is just as important for investors, however, since you must own a stock before the ex-dividend date in order to receive the next scheduled dividend.
Prior to this date, the stock is said to be cum dividend ("with dividend"): existing holders of the stock and anyone who buys it will receive the dividend, whereas any holders selling the stock lose their right to the dividend.
On and after this date the stock becomes ex dividend ("without dividend"): existing holders of the stock will receive the dividend even if they now sell the stock, whereas anyone who now buys the stock now will not receive the dividend.
However, the Term Spin-Off pertains to the 'Intentions of the Company' and the shares are a distribution as a result from the assets sold to Kat Gold Holdings via Kat Exploration.
A stock trades ex-dividend on or after the ex-dividend date (ex-date). At this point, the person who owns the security on the ex-dividend date will be awarded the payment, regardless of who currently holds the stock.
After the ex-date has been declared, the stock will usually drop in price by the amount of the expected dividend.
It's further explained in the following post, but needless to say the misunderstandings will continue until there's a decision from the SEC and FINRA!
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