Would anyone know the date after which you can sell NPD and still receive the $.60 special dividend? I know the record date is May 7, which would indicate the stock is safe to sell on May 8; however, in researching special dividend rules, I'm finding conflicting information.
For example, Wikipedia says "For special dividends, the ex-dividend date is set one stock trading day after the dividend date (the date on which dividend payment is made, typically after the record date). The stock will trade on an ex-distribution basis (adjusted for the amount of the dividend paid) on the trading day after the dividend date. The determining factor for a special dividend is usually when the dividend is 20% or greater in relation to the underlying price of the stock/security.
Given this definition, you would have to hold NPD until June 8 in order to get the dividend, right?
"in researching special dividend rules, I'm finding conflicting information."
That's because you used Wikipedia. Their explanation of special dividends is largely wrong.
"Given this definition, you would have to hold NPD until June 8 in order to get the dividend, right?"
Under that definition, yes, but that definition is wrong. With ALL dividends, you need only hold until the open on the ex-dividend date to sell and get the dividend. NPD is ex-dividend today. That means you can sell today and get the dividend on June 7th.