Fri, May 24, 2013, 1:15 PM EDT - U.S. Markets close in 2 hrs 45 mins
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you need to be an owner until the ex-date to get the dividends, meaning you must still have the shares until after the market opens on the ex-date. but after the market opens on the ex-date, you can sell and still have the dividends.
Also, on the ex-div date the specialist willreduce the stock price by the ex-dividend amount.
Historically the payout itself has come in january