I made a mistake. the x-div date is the 12th. Here is the quote from the geo webpage:
On December 6, 2012, GEO's Board declared a special dividend of $5.68 per share of common stock, representing approximately $350 million of accumulated earnings and profits, which will be paid on December 31, 2012 to shareholders of record as of December 12, 2012.
Does this mean that we have to have shares at the close of 12/12/12? Why the dumping today and all the buying on thursday and friday? this is a 20% dividend. Why isn't everyone buying this. Is there something here I'm missing? Please let me know before I make a big mistake and buy some more.
share holder of record date is not the same as the exdiv date. Share holder of record is 2 or 3 days after the exdiv date. In order to get the dividend you must have purchased the stock before the exdividend day. If you sell on the exdiv day you get the dividend. On exdiv day stocks tend to open lower than the previous day by the amount of the dividend.