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Frontier Communications Corporation Message Board

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  • stegosaurus1 stegosaurus1 Mar 7, 2011 12:52 PM Flag

    Thanks for the Coin

    your quote:

    "...the trade must settle by exdiv date .. at least 3 days and some brokerages don't settle for 5 !!!"

    The trade must settle by THE SETTLEMENT DATE, not the ex-div date.

    What do you think the phrase "ex-div" means?
    The guy who owns the stock on the DAY BEFORE and who OWNS AND/OR SELLS ON ex-div day gets the dividend. Always.

    The buyer on ex-div day DOES NOT GET THE DIVIDEND!!! EVER!!!

    You can remain ignorant on the workings of the market, but try not to convince others.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Will FTR open tomorrow down the amount of the dividend?

    • You are wrong too.

      Any business day can be a settlement day, but there can only be one DATE OF RECORD per dividend declared. To receive the dividend you must have owned the stock on the DATE OF RECORD.

      I bought FTR on March 1st. My SETTLEMENT date was March 4th (T+3, or Trade Date plus 3 business days after the transaction occurred). I am the owner of record of the shares starting on March 4th. I will be the owner of record until 3 business days AFTER I sell the shares. If I were to sell today(March 7, the ex-div. date)I will be the shareholder of record March 8th. and 9th., but not the 10th (sell settlement day). I would get the div because I was the shareholder of record on the RECORD DATE, March 9th.

      RECORD DATE is NOT the same as SETTLEMENT DATE.

      I'm just saying.

 
FTR
5.18-0.17(-3.18%)May 5 4:00 PMEDT