Annaly Capital Management, Inc. Announces 3rd Quarter Dividend of $0.55 per Share
NEW YORK--(BUSINESS WIRE)--Sept. 8, 2008--The Board of Directors of Annaly Capital Management, Inc. (NYSE: NLY) declared the third quarter 2008 common stock cash dividend of $0.55 per common share. This dividend is payable October 29, 2008 to common shareholders of record on September 18, 2008. The ex-dividend date is September 16, 2008.
This is form Yahoo finance
(1) Date by which a shareholder must officially own shares in order to be entitled to a dividend. For example, a firm might declare a dividend on Nov. 1, payable Dec. 1 to holders of record Nov. 15. Once a trade is executed, an investor becomes the "owner of record" on settlement, which currently takes five business days for securities and one business day for mutual funds. Stocks trade ex-dividend the fourth day before the record date, since the seller will still be the owner of record and is thus entitled to the dividend. (2) The date that determines who is entitled to payment of principal and interest due to be paid on a security. The record date for most MBS is the last day of the month, although the last day on which an MBS may be presented for the transfer is the last business day of the month. The record dates for CMOs and asset-backed securities vary with each issue.
Absolutely wrong! Yesterday, 9/18 was the dividend date, but the ex-dividend date was Tuesday 9/16. The 55-cents already came off the stock price on Tuesday morning. Please read up about the dividend cycle before posting inaccurate information. It takes two business days for the official rolls to be updated, so individuals "on record" on the morning of the ex-dividend date (9/16) will receive the dividend, even if they subsequently sell the stock prior to the dividend date (9/18).
Don't confuse the dividend date and the ex-dividend date. Investors "on record" on 9/18 are those that owned the stock at 9:30 am on the morning of the ex-dividend date (9/16). I know it's weird in this day and age with everything real-time, but that's how it works. The dividend was already reduced from NLY's price on Tuesday morning.