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Technology Stocks : Compaq
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To: Harry Landsiedel who wrote (11097)12/12/1997 2:10:00 PM
From: Robert Voigt  Read Replies (1) of 97611
 
Re: Split. I believe the 12/31 date is the "record" date for administrative purposes. Maybe others can be more enlighening.

Yes, it is. In today's environment when most stock is held in a street name, it becomes nothing more than a formality. If you buy before the split occurs, but after the record date you get a "right to ownership" (or something like this). It means that whoever sold (after the record date) will have to give up their post split shares. This is all handled automatically by the brokerage houses.

The only possible stickler, would be if you had actual certificates. You would still get new ones, but someone else, may have to send theirs back. This is rare. The date is primarily administrative.
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