"Today the Company announced that the Board of Directors approved the declaration of a quarterly common stock dividend of $0.60 per share payable in cash. This dividend is payable on August 31, 2010 to stockholders of record on August 17, 2010."
It trades ex-div on 8/13, so if you're looking to avoid, then you need to have your short covered (and probably settled) by 8/12, which really means you should cover down not later than Monday (8/9). This is why puts are better vehicles.
But really - who gives a fug? You're going to be way ahead on the short by then, so eat the divvy and ride your trade to sweet profits.
yeah your probably right, if i cover for that length of time, the stock could potentially drop much more than the .60 cents i am trying to avoid paying, but who knows, if the Fed starts to buy MBS's again and the banks continue to put that money into the stock market, this rally could have some legs, but i doubt it will continue all the way to the election as planned, their balance sheet is already pretty high and who are they going to sell those MBS's to anyway? Do they actually believe that Real Estate is going to come back anytime soon? I'm thinking aprox another 2 years of declining housing prices and millions of more foreclosures, then you also have the shadow inventory to consider. I think the banks are going to continue to accelerate their foreclosures in a race to see who can dump their Real Estate holdings 1st. That should lower prices even further. I am in the market to buy a house, but will wait until i am certain the market has bottomed. In the meantime, i am enjoying not having to pay property tax and mortgage interest.