Okay, so I held my 1000shrs post "holders of record date" and I presume I get the special dividend (1.60) in June. Do you (me) still get the dividend if you sell between the record date and the dividend pay-out date? I'm at (- minus) $1799 as of today...5/28...so if I sold and still received the 1.60/shr times 1000 ($1600) I'd only be out $200 bucks?
Or is there some catch to when you can sell the shares, etc. and still get the dividend?
sc, if you sell your shares before the ex-div date (June 5th) the $1.60 divided will go over to the new shareholder. Sell them 'after' June 4th, and you will get the dividend.
However, on the morning of June 5th NASDAQ will adjust the previous day's closing price downward by $1.60 and shares willl start trading that morning at whatever the market bid/ask levels are that buyers and sellers care to bid/ask. Anybody who 'buys' on the ex-div date or thereafter will 'not' get the $1.60 dividend, the seller will, so presumedly the bid prices will reflect that reduction in value.
This is my understanding of it will work, anyone out there with an alternative expectation please chime in.