"should i hold it for a few days and see if it gets a pop up"
I have no idea what you should do. I don't know where the price is headed.
Usually the divvy hits your account on time--has been the case with me on Scottrade in similar type cases. Stock will probably recoup 5 cents of the 70 cent downtick tomorrow. Stay tuned.
I've read that Sept. 30th is payday but because of the due bill the dividend won't actually be paid until Oct. 3rd.
"Isn't Oct. 3rd payday? Record date three days after ex date"
For a guy who came on this board swaggering like you knew all about everything, and claiming to be a psychic to boot, you sure are uninformed.
"It should easily go to at least $3 before the X date ... EASY MONEY :) just wait and see"
I waited, billpulvida, but I didn't see. What happened to that easy money?
"There is very little chance MSN remains under $3.00 in the next 4 weeks. Now is the time to load up tons of shares and then walk away from your computer. Come back in a couple weeks and check out your gains."
What gains? Can you be more specific?
"My price target for MSN in the next 3 weeks is about $3.40"
And we're all SO much better off for you having shared that.
"CWN, I will catch up with you the day before the ex-date ... there is going to be huge interest in this dividend ... I will be very surprised if the share price doesn't rise over $3.25 between now and the day before the ex-date."
So where are you, long_term_investor1?
You created that I.D. on that day just to post a flurry of complete nonsense for three days, then disappeared. Well, here it is, the day before the ex-date and none of your ridiculous predictions came true. You wouldn't care to explain why, would you?
I didn't think so.
I thought today was payday for the people on record as of the 12th, but that if you sell before tomorrow then you have to pay the dividend back. This is a webpage I found explaining the rules:
This difference occurs because on the ex-dividend date the stock exchange adjusts the stock price to account for the dividend to be paid out. If this same procedure were to happen in the case for a large dividend, say 25% of the stock price or more, then this might signal a huge drop in share price that could affect many traders and investors.
Rather than deal with these headaches, the stock exchanges apply a special rule to deal with these large one-time dividends. The exchanges (not the companies) set an ex-dividend after the record and pay date. Now, you may be wondering how some might receive their dividend if it is paid before the ex-dividend date (the date on which owners of a stock have the right to receive the dividend). To get around this obstacle, the stocks bought or sold in the period from the record date to the ex-dividend date (the due bill period) are tagged with something called a “due bill.”
The due bill documents are a contract that lays out a stock seller’s obligation to deliver the dividend to the stock buyer. For example, let’s say company XYZ is offering a special dividend that is worth 30% of the current share price. This dividend is tagged with a record date of March 1, a pay date of March 15, and an ex-dividend date of March 18. If an owner of stock from XYZ holds the asset through March 15, he would receive the dividend paid at that point. However, if he were to sell that stock on March 17, then the new owner of the asset on the ex-dividend date of March 18 would have the right to the dividend that the original owner has already pocketed. Therefore, the due bill attached to the stock is a promissory note mandating that the original owner passes on the dividend to the new owner.
I didn't buy until after the date of record so I know I won't get my dividend until the due bill process resolves, but I was just curious what it looks like in people's accounts who owned it before then. Does it show a huge gain because you have the stock at the normal price, plus the dividend?
I know you'll lose either the stock value when it goes ex-dividend tomorrow, or the dividend if you sell today. But I just imagine a lot of people don't know that and would be selling out today thinking they get to keep both.
Sorry to disagree. I've held this stock for 3 years and it has gone no where. Lost its' biggest customer Walmart and has very little future. I will take the div and sell quickly!
Sentiment: Strong Sell
Dear Mr. Whit is your first name Nit? Reading the posts here is very sad and very telling. Maybe third grade maybe fourth.