Once again, the "expert" speaks! NO ONE CARES whether you were "going to buy some more today." Do you really think anyone on this board cares what you have to say? What a MORON your are!
From Sleek Money at Merrill Lynch Trading:
"Apollo Global Management LLC To Go Ex-Dividend on February 12th (APO)"
Looks like they fooled us both. And I was going to buy some more today. Go figure.
This is a BASIC tenet of investing and is by no means rocket science. Companies rarely if ever announce their ex-date, but they do announce the record date. This is from a recent APO press release:
"Apollo Global Management, LLC has declared a fourth quarter 2014 cash distribution of $0.86 per Class A share. This distribution will be paid on February 27, 2015 to holders of record at the close of business on February 17, 2015."
Since stock trades have a 3 day settlement, you need to buy it at least 3 business days before the record date to receive the distribution. Therefore, the following day you buy the stock ex-dividend (without the dividend) since your trade would settle the day after record date. The stock will also begin trading at yesterday's closing price MINUS the amount of the distribution. It never ceases to amaze me how many people are willing to invest in securities without even a basic knowledge of what they're doing.