WESTWOOD, Kan.--(BUSINESS WIRE)--Dec. 18, 2002--NovaStar Financial, Inc. (NYSE:NFI... has declared a fourth-quarter cash dividend of $1.60 per share on its common stock.
The common dividend will be paid on January 15, 2003, to holders of record as of December 31, 2002. =============================================== The record date is Tuesday, Dec. 31. Count back three market days from the record date: Tuesday, Monday, Friday. The Ex-div date is Friday, 27 December. The last day to purchase and receive the next div. is Thursday, Dec. 26.
Go to < www.sec.gov/answers/dividen.htm > for a detailed explanation of Ex, Record, and Payment dates by the folk who wrote the rules.
Look at a Yahoo detailed quote or chart... http://finance.yahoo.com/q?s=NFI&d=b ... they report the ex-div date in the lower right corner. (It's usually right, but their data is always suspect, so the best thing to do is verify it at the source.)
Record Date is 12/31/2002. As such, you need to own the stock on that day to receive the dividend. As such, with T+3 settlement, the ex (meaning "without") dividend date is 12/27. Are we all clear now? We seem to go through this every damn quarter. (Sorry for my impatience - it's the holidays).