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Advent Software, Inc. Message Board

cwn600 76 posts  |  Last Activity: Apr 15, 2014 4:56 PM Member since: Dec 28, 1999
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  • Reply to

    Dividend

    by jakpak123 Apr 15, 2014 12:32 PM
    cwn600 cwn600 Apr 15, 2014 4:56 PM Flag

    To add to what diggity_dudeski and I have both said, owning a stock and being a shareholder of record are not the same thing. When you buy a stock, you own it the instant the trade is executed. But you are not a shareholder of record until the trade is settled, which is three business days after the trade is executed.

    Similarly, when you sell a stock, you are a former shareholder the instant the trade is executed. But you remain a shareholder of record until the trade settles three business days later. That's why you can sell on the ex-date and still get the dividend because the trade doesn't settle until the first business day AFTER the record date.

  • Reply to

    Dividend

    by jakpak123 Apr 15, 2014 12:32 PM
    cwn600 cwn600 Apr 15, 2014 1:21 PM Flag

    "today is the ex-dividend date"

    Yes.

    "if you already own shares and want the dividend don't sell before Monday."

    There's no need to hold until Monday. If you already own shares of VALE, you can sell today and still receive the dividend. With today being the ex-date, the first day the buyer doesn't get the dividend, who does the dividend go to? The seller, of course.

  • Reply to

    ex-dividend. Up big today.

    by bobcc21 Apr 9, 2014 10:07 AM
    cwn600 cwn600 Apr 9, 2014 3:17 PM Flag

    "The Company says it's ex-div on the 11th."

    No, it didn't. It said the record date is the 11th. You quoted it yourself: "... to unitholders of record as of the close of business on April 11, 2014."

    Ex-date and record date are not the same thing.

    To be a unitholder of record on the 11th, you can buy no later than the 8th, which makes the ex-date the 9th.

  • Reply to

    On Our Way to $88

    by goldenstockss Apr 8, 2014 3:07 PM
    cwn600 cwn600 Apr 8, 2014 4:33 PM Flag

    "I wanted to add the ex-dividend date 4/15"

    April 16th, not the 15th.

  • Reply to

    Question

    by rbillywhiskers Apr 8, 2014 9:54 AM
    cwn600 cwn600 Apr 8, 2014 3:12 PM Flag

    "Say the stock closes on the ex-dividend date at $89. would the $3. be taken off and the next morning the stock opens at $86.???"

    No, the price adjustment for the dividend happens at the open of the ex-date, not the morning after.

  • Reply to

    Question

    by rbillywhiskers Apr 8, 2014 9:54 AM
    cwn600 cwn600 Apr 8, 2014 3:11 PM Flag

    "The stock price will drop $3.00 the next morning."

    Not the morning after the ex-date, the morning OF the ex-date.

  • Reply to

    Question

    by rbillywhiskers Apr 8, 2014 9:54 AM
    cwn600 cwn600 Apr 8, 2014 3:10 PM Flag

    "The stock does not go down that amount"

    Sure it does. A glance at historical prices clearly shows that it does.

    "Some people however are purely dividend traders, meaning that they purchase the stock on x day, then three days later is the ex-dividend date"

    Three days after the x day is the ex-dividend date? You're very confused.

    "because transactions take 3 days to validate, which is why the record-date is always 3 days after the ex-dividend date."

    No, the record date is usually two days after the ex-date, not three. It's never three days after the ex-date. It looks like you're confusing the last day to qualify for the dividend with the first day the stock trades without the dividend. The latter is the ex-date, not the former.

  • Reply to

    EX DIV DATE

    by mous789 Apr 7, 2014 9:03 AM
    cwn600 cwn600 Apr 7, 2014 4:52 PM Flag

    "If u buy on ex date, you will receive divy."

    No. The ex-date is the first day that buyers DON'T get the dividend.

  • Reply to

    If I sell my shares today

    by zieleniak Apr 7, 2014 9:01 AM
    cwn600 cwn600 Apr 7, 2014 3:02 PM Flag

    No, the press release of 3-24 tells you that won't get the spinoff: "if you own shares of Safeway common stock and sell those shares in the regular way market prior to or on the Distribution Date, you also will be selling your right to receive the special stock dividend of shares of Blackhawk Class B common stock."

    That's because the ex-date is the 15th.

  • Reply to

    If I sell my shares today

    by zieleniak Apr 7, 2014 9:01 AM
    cwn600 cwn600 Apr 7, 2014 2:59 PM Flag

    No. The ex-date is the 15th.

  • Reply to

    When is ex dividend date?

    by sjflicker Apr 4, 2014 2:23 PM
    cwn600 cwn600 Apr 7, 2014 12:47 PM Flag

    "it looks like someone is angry about holding this thing since the upper 40's"

    How do you deduce that "someone is angry" when I simply corrected you about the ex-dividend date?

    "Cwn600 - hate to tell you - you will never make your money back on this dog"

    You can't get anything right, can you? I never put any money in this pig.

  • Reply to

    EX DIV DATE

    by mous789 Apr 7, 2014 9:03 AM
    cwn600 cwn600 Apr 7, 2014 12:41 PM Flag

    Do a google search for "understanding dividend dates" and go to the site at the top of the list. It explains how it all works.

  • Reply to

    partial distribution april 3

    by redtennis Apr 4, 2014 12:34 PM
    cwn600 cwn600 Apr 7, 2014 12:39 PM Flag

    "if someone sold their shares on April 2nd they are going to get the Blackhawk shares?"

    No. The rights to the Blackhawk shares sell with the SWY shares through April 14.

    "What happens if they sold on the 2nd and the REC date is April 3rd?"

    They also sold their rights to the spinoff shares.

    "I haven't seen or read anywhere that the EX-dividend date is 4/1"

    That's because it isn't the first. It's the 15th.

  • Reply to

    partial distribution april 3

    by redtennis Apr 4, 2014 12:34 PM
    cwn600 cwn600 Apr 7, 2014 12:35 PM Flag

    "the x-date is 4/1"

    No. The ex-date is April 15. FINRA rules require the ex-date for spinoffs to be the first business day after the payment date.

    The specific rule is FINRA 11140 (b) (2), and it say, " In respect to ... stock dividends and/or splits ... the ex-dividend date shall be the first business day following the payable date."

  • Reply to

    partial distribution april 3

    by redtennis Apr 4, 2014 12:34 PM
    cwn600 cwn600 Apr 7, 2014 12:24 PM Flag

    "If the record date is 4/3, then the x-date is 3/31."

    No. The ex-date is April 15. Unlike cash dividends, the ex-date for spinoffs is the first business day after the payment date.

    "the most likely explanation is that it trades "due bills" w.r.t. to the distribution."

    Yes, exactly. The press release of March 24 says so, though indirectly: "if you own shares of Safeway common stock and sell those shares in the regular way market prior to or on the Distribution Date, you also will be selling your right to receive the special stock dividend of shares of Blackhawk Class B common stock."

  • Reply to

    partial distribution april 3

    by redtennis Apr 4, 2014 12:34 PM
    cwn600 cwn600 Apr 7, 2014 12:22 PM Flag

    "If the record date was the close of business 4/3/2014 then I would have expected to see the price of SWY drop by about $3 on 4/4/2014 which it obviously did not do."

    That would be true only if SWY was paying a cash dividend of equal value to the spinoff. With spinoffs, the ex-date is the first business day after the payment date. With the payment date April 14, the ex-date is April 15.

  • Reply to

    partial distribution april 3

    by redtennis Apr 4, 2014 12:34 PM
    cwn600 cwn600 Apr 7, 2014 12:19 PM Flag

    "It is my understanding that you had to own swy on April 3 to get Hawk shares"

    No. Spinoffs follow different rules than cash dividends. You can buy as late as April 14 and still get the spinoff.

  • Reply to

    When is ex dividend date?

    by sjflicker Apr 4, 2014 2:23 PM
    cwn600 cwn600 Apr 4, 2014 9:05 PM Flag

    "The company's PR said 4/14/14"

    No, that's the record date. The ex-date is the 10th.

  • Reply to

    When is ex dividend date?

    by sjflicker Apr 4, 2014 2:23 PM
    cwn600 cwn600 Apr 4, 2014 9:05 PM Flag

    It's April 10. The company gave the wrong record date in their first announcement but quickly corrected it with a new announcement.

  • Reply to

    Volume

    by johnsonjoel1 Apr 4, 2014 10:35 AM
    cwn600 cwn600 Apr 4, 2014 4:39 PM Flag

    "claiming that 12 million shares were sold by long time holders is just plain stupid"

    I would agree with you had I said that, but I did not. What I actually said was, "Today's trading spike is mostly day traders taking advantage of the volatility caused by the announcement of the secondary."

    You do understand that the same shares can be traded more than once in the same day, don't you? In fact, a single round trip day trade turns the same shares over twice -- once when the day trader buys them, and once when the same trader sells them. And you do understand that some day traders trade the same stock several times in the same day, don't you?

    Had I known, roberts, that you are not only staggeringly ignorant but are equally resistant to learning new facts (assuming you've ever learned a fact; you've put that possibility into serious doubt), I would not have posted the facts here, for it has been a complete waste of my time. (Though in your impenetrable fog of ignorance, you probably feel like a hero, don't you?)

    Why you don't research the truth instead of clinging to your goofy assumptions speaks volumes.

    But then again, it's been pretty entertaining watching you & johnson try to reason your way out of your ignorance by offering up more of same. That's like trying to save a drowning man by throwing him into deeper water.

    You're a hoot, roberts! And the more you post, the dumber you look. So by all means, post away. You're probably worth a couple more laughs before you become tiresome.

    Putz.

    .

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