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Strategies & Market Trends : From the Trading Desk
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To: CygnusX3 who wrote (4139)2/4/1999 7:34:00 AM
From: Gersh Avery  Read Replies (1) of 4969
 
Jack

I know that there are ways that the record date can be the same day.

If someone were to take the time to get the correct paperwork done they would then be the owner of record the day of purchase. This is unusual but it does take place.

But .. you say that the ex-dividend date is no more than three days before the trade date:

"That means that the trade date can be no later than the third trading day before the record date for regular three day settlements."

So then if someone owns the stock and then sells it the day before the owner of record date, he is still the owner of record on the critical date. If someone else purchases the same shares on the same day, my guess is that neither person gets the dividend and the brokerage just keeps it for themselves .. correct?

Gersh
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