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Alliance Resource Partners LP Message Board

  • jptiedeman jptiedeman Aug 2, 2013 8:57 AM Flag

    Record Date vs. Ex Date

    Question for the board - I see that ARLP goes ex-distribution on 8/5. At the same time, I see that the record date is 8/7. Normally, I would assume that in order to get the distribution I would need to purchase on 8/1 to guarantee I was on record by 8/5, but with a record date 2 days after the ex-date it appears that there is more leniancy here and that anyone who buys today would still qualify for the upcoming distribution.

    Am I looking at this right? Any insight would be appreciated.

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    • ex-date is always 2 business days prior to record date.
      And you need to buy the day before ex-date to collect the distributions.

    • The Important Dates of a Dividend
      There are four major dates in the process of a company paying dividends:

      Declaration date - This is the date on which the board of directors announces to shareholders and the market as a whole that the company will pay a dividend.

      Ex-date or Ex-dividend date - On (or after) this date the security trades without its dividend. If you buy a dividend paying stock one day before the ex-dividend you will still get the dividend, but if you buy on the ex-dividend date, you won't get the dividend. Conversely, if you want to sell a stock and still receive a dividend that has been declared you need to sell on (or after) the ex-dividend day. The ex-date is the second business day before the date of record.

      Date of record - This is the date on which the company looks at its records to see who the shareholders of the company are. An investor must be listed as a holder of record to ensure the right of a dividend payout.

      Date of payment (payable date) - This is the date the company mails out the dividend to the holder of record. This date is generally a week or more after the date of record so that the company has sufficient time to ensure that it accurately pays all those who are entitled.

    • "Am I looking at this right? "

      Yes. All normal dividends work that way.

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