On another post I have been ranting that the X-Date for LINN was last Wednesday based on a Record Date of Monday, August 12th. There was so much debate that I decided to do a little research and I am here to say that I was wrong. Here is what I learned:
"In the United States, the Securities and Exchange Commission stipulates that there are three days of settlement for stock trades. The ex-dividend date is normally two business days (3 minus 1) before the record date."
It does say "normally 2 business days" and I don't know if this applies to Linn or not, but I do apologize. However, based on the debate this is not a well known fact.
"It does say "normally 2 business days" and I don't know if this applies to Linn or not"
Yes, it does in this case. Normal dividends are considered to be payouts that represent less than 25% of the company's stock price as of the declaration date. The only exception to that is when dividends are less than one penny a share. With dividends of 25% or more of the company's stock price, the ex-date is not two business days before the record date.