OK, so please disregard part of my previous post/request however, anyone that can shed light on any rules as to how much time ONVI has to post the cash dividend to my brokerage account would be appreciated. In other words, yeah, so Monday, 5/6 is Ex-Div date expecation but how long does a company have to get the cash div to a shareholder's brokerage account? What are the rules? Same day? Within 48 hrs? When they get around to it? Does shareholder's brokerage firm have to do anything or does it automatically come to the account?
Here's how it works. The record date is the date that the company chooses to look at who owns the shares on that specific day. It is a random date and has little significance. When the dividend/distribution is awarded, those share owners on the record date are more or less tagged. If they were not sold prior to the trading day preceding the ex-div date, then that shareholder will recieve the dist/div. If they were sold after the record date, the div/dist. stays with the shares - not the past owner - in a form called a "due bill" meaning that the div/dist is due the owner of the shares.
Whoever owns those shares at the end of the session just prior to the ex-div date will receive the div/dist. If you owned the shares prior to the record date you will likely receive your dist/div on the ex-div date or a day later. If you bought after the record date but before the ex-div it may take an extra day ot two to receive your dist/div due to the tracking process, but in all liklihood they will probably arrive in your account on the day of or day after ex-div date.
When GIGM did its $2 dist last month I received all my dist on the ex-div date, although a lot of my shares had been bought well past the record date.
Hope this answers all questions. I hope that you kept a bunnch Monarch.
Thanks for that clarification, I'm sure you're right.
Alas, I completely sold out of ALL my ONVI shrs over the course of these last couple weeks, accelerating after the CC, at prices ranging from 62 to 65 cents.
Since last fall I've always considered ONVI to be ultra-low downside risk but after ONVI's recent CC the long term risk/reward ratio didn't appeal to me as much as DTEC. So I decided to convert my ONVI asset entirely into DTEC. Naturally DTEC has continued to fall as I have continued to buy more.
I think you're probably also right about ONVI's price in near term. But it will be interesting to see how DTEC compares to ONVI's post div price 2 or more mths from now after the VIAN/DVIN merger closes.
I think we'll both be doing very well going forward, I'm just assuming a bit more risk in exchange for what I believe is disproportionately greater upside. Good luck.