"RAIT Financial Trust Increases Second Quarter Cash Dividend on its Common Shares
Company Release - 06/13/2014 08:30
PHILADELPHIA--(BUSINESS WIRE)-- RAIT Financial Trust (NYSE: RAS) (“RAIT”) today announced that on June 12, 2014, RAIT’s Board of Trustees declared a second quarter 2014 cash dividend on RAIT’s common shares of $0.18 per common share, representing a 5.8% increase from the prior quarter's dividend of $0.17 per common share and a 38% increase from the second quarter 2014 dividend of $0.13 per common share. The dividend will be paid on July 31, 2014 to holders of record on July 11, 2014. The ex-dividend date is July 9, 2014."
Ex dividend and date of record are two different dates. The ex-dividend date precedes the date of record by two days. The reason is that it takes two days for transactions to "settle". A little confusing but important to know.
Also, a person who buys in the pre-market on the ex-dividend day will own the stock before the market opens but will not be entitled to the dividend. One must own the stock at the end of trading (or if you want, 11:59 pm New York time) on the day prior to ex-dividend date to get the dividend.