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Pastimes : The Naked Truth - Big Kahuna a Myth
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To: wlheatmoon who wrote (48056)6/18/1999 1:13:00 PM
From: accountclosed  Read Replies (1) of 86076
 
dividends have an x-dividend date. before the date they trade with the dividend. so let's say the stock is 80 and the dividend is 1 buck. you can buy the stock for 80 up to the close of the day before the x date. on the morning of the x date, the price is adjusted down by 1 before it opens to 79....now mind you there may be other factors at play such as an up or down market or news on the stock, etc. so the stock is not guaranteed to open at 79 exactly. but 79 all other things equal...

after the open, the stock trades without the dividend. so you can buy at 3:59 on the day before, sell at 9:31 the day of the x and get the dividend. or afterhours even later...

but there is no free lunch since investors won't pay as much for your stock after the dividend x point has passed.
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