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Chevron Corporation Message Board

  • boyce43 boyce43 May 15, 2009 11:54 AM Flag

    Dividend date of record in question?

    Interesting that Chevron's site says May 19 as date of record of dividend, yet yahoo, Fidelity investments and others are reporting the 5-15 date as date of record for the dividend to paid on the 10th of June.

    Any one know for sure what date is the actual date you must own the stock at the close of the day to earn the dividend?


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    • Have you ever bought a stock only to find out later that you were not entitled to the next cash or stock dividend paid by the company? To determine whether you should get cash and most stock dividends, you need to look at two important dates. They are the "record date" or "date of record" and the "ex-dividend date" or "ex-date."

      When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. Companies also use this date to determine who is sent proxy statements, financial reports, and other information.

      Once the company sets the record date, the stock exchanges or the National Association of Securities Dealers, Inc. fix the ex-dividend date. The ex-dividend date is normally set for stocks two business days before the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you get the dividend.

      Here is an example:

      Declaration Date Ex-Dividend Date Record Date Payable Date
      7/27/2004 8/6/2004 8/10/2004 9/10/2004

      On July 27, 2004, Company XYZ declares a dividend payable on September 10, 2004 to its shareholders. XYZ also announces that shareholders of record on the company's books on or before August 10, 2004 are entitled to the dividend. The stock would then go ex-dividend two business days before the record date.

      In this example, the record date falls on a Tuesday. Excluding weekends and holidays, the ex-dividend is set two business days before the record date or the opening of the market – in this case on the preceding Friday. This means anyone who bought the stock on Friday or after would not get the dividend. At the same time, those who purchase before the ex-dividend date receive the dividend.

      With a significant dividend, the price of a stock may move up by the dollar amount of the dividend as the ex-dividend date approaches and then fall by that amount after the ex-dividend date. A stock that has gone ex-dividend is marked with an "x" in newspapers on that day.

      Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).

      If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or "due bill" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is not the first business day after the record date, but usually is the first business day after the stock dividend is paid.

      If you have questions about specific dividends, you should consult with your financial advisor. You can also get information by going to your library and reading Standard and Poor's Dividend Record Binder.

    • If you buy today you will not get dividend

      • 1 Reply to nikit2h
      • Per mellon investor services and chevron's own website the holders of stock at the close of business on the 19th of May will get the dividend. Yahoo, Fidelity and others show the 15th which must be in error. If it was the 15th, you could buy and hold the stock to the end of today and get the dividend.

        those are the facts my friends as I see them and by those in the know!!


    • one note : to get the dividend, you have to own the stock THE DAY BEFORE the "X" DATE...THAT IS MY UNDERSTANDING

    • I'll tell ya...Yahoo skrews dates up...a lot...I was checking out an "x" date for a stock yesterday...think it was SNY...Yahoo had "x" coming in May (15th? or so)...yet the "company events" showed that it had already gone "x" in APRIL...already passed !

      So, to answer your question, I don't know the true "x" date...and I'd sure NOT rely on YAHOO...Always a good idea to just keep holding the stock UNTIL you actually see the "x-dividend" posted in the "Compnay Events" site...and right now, I don't see an x-date listed...(damned Yahoo)

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