You are right about dividends being taxabse when paid (issue #2). The company did pay the dividends in 2011, but Computershare held the money until 2012.
Your explaination that I'm in a reinvestment program rather than a true D.R.I.P. hits the nail on the head (both issues). I don't have any fee problems in my P&G and Westar Energy drips. They have no fees as the companies are managing their programs.
<<so if you were a new buyer wouldn't the prudent thing to do here is to wait and buy after the ex date? >>
That would be my thinking. The lower the share price the higher your "yield" of return is. More bang for your buck...especially for a long term player. Another reason I do not like auto DRP ( dividend reinvestment plan ) Why buy something when it is not on sale. I prefer to choose the price I pay. Sometimes you end up getting new shares at a high price therefore reducing the " yield of return. It adds up in the long term especially if you have a lot of shares.
Yes that is the record date, but since sales take three biz days to settle if you sell on 6/27 you ARE still on record up through 6/29. Thus, the following is uncontroverted:
Sell before the "ex-date" (in this case 6/27) and you don't get the dividend. Sell on the 27th or later, or don't sell at all, and you do.
There is a lot of confusion between the "ex" and "record" dates, but the above summary is correct. Really! If you want the divvy, don't sell before the 27th, thus you will still legally be on record on the 29th, and you will get it. Period.
The Board of Directors of Annaly Capital Management, Inc. (NYSE: NLY) declared the second quarter 2012 common stock cash dividend of $0.55 per common share. This dividend is payable July 26, 2012, to common shareholders of record on June 29, 2012. The ex-dividend date is June 27, 2012.