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Thread: Ex Div Dates

  1. #1
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    Default Ex Div Dates

    Hi everyone,

    This is going to sound stupid but I seem to have confused myself with ex div dates...just hoping I can get some clarification.

    If I were to sell a particular share on the ex div date itself, will I still get the div from that previous share? Or do I have to wait until the day after the ex div date?

    Thank you for your time..

    Ed.

  2. #2
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    Yup, you need to sell after the ex date

  3. #3
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    Default

    Thank you both!

    Have a great weekend

  4. #4
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    Default

    Quote Originally Posted by moosie_900 View Post
    you also need to make sure you hold the share on the record date to actually receive a divvy. can't just buy it the day before unfortunately!

    my friends tactic is to time an entry before the record date, hold after ex div then sell once the sp has recovered.
    so they aren't buying for the div per se, but because the price drop is normally less than the div? Any particular shares or things to look for? Dies imputation have an effect?

  5. #5
    Reincarnated Panthera Snow Leopard's Avatar
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    Thumbs up The truth, the whole truth and nothing but the truth

    Quote Originally Posted by edm View Post
    Hi everyone,

    This is going to sound stupid but I seem to have confused myself with ex div dates...just hoping I can get some clarification.

    If I were to sell a particular share on the ex div date itself, will I still get the div from that previous share? Or do I have to wait until the day after the ex div date?

    Thank you for your time..

    Ed.
    Quote Originally Posted by baller18 View Post
    Yup, you need to sell after the ex date
    WRONG!

    Quote Originally Posted by moosie_900 View Post
    you also need to make sure you hold the share on the record date to actually receive a divvy. can't just buy it the day before unfortunately!...
    WRONG!

    The ex-dividend date it the first date that the share trades without the dividend attached.
    If you sell your shares on ,or after, the ex-dividend date you get the dividend.
    You get the dividend if you 'own' the shares at the close of business on the (working) day prior to the ex-dividend day.

    The record date is 2 working days after the ex-dividend date, and is when the 'paper work' catches up with the buys and sells and when the register is read for the dividend. You do not need to own the shares until or on this date.

    Payment date is further on and when you actually get your paws on the dividend monies.

    As a for instance Opus OIC went Ex-Dividend today, Friday 13th September 2013.
    (The record date is 17th September and the payment date is 1st October).

    If you own them yesterday at close of business the 4c dividend will be yours, and you can sell them today.
    OIC closed at $1.91 yesterday, when I last looked at it NZX quoted it at $1.86 down 1c, that is down 1c on the theoretical ex-div price of $1.91-0.04 = $1.87.

    Best Wishes
    Paper Tiger
    Last edited by Snow Leopard; 13-09-2013 at 01:20 PM. Reason: total confusion by tiger
    om mani peme hum

  6. #6
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    Isn't it 3 working days paper tiger?

  7. #7
    Reincarnated Panthera Snow Leopard's Avatar
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    Wink A little clarity* on a Friday

    Quote Originally Posted by baller18 View Post
    Isn't it 3 working days paper tiger?
    It is 3 working days from the day when you have to own the shares (at COB) which is the day before the ex-dividend day.

    So 3 -1 = 2 days after ex-div is record.

    Sorry if I created any confusion there.

    As always Best Wishes
    Paper Tiger

    *I believe clarity is a type of red wine.
    om mani peme hum

  8. #8
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    Thanks heaps tiger!!

  9. #9
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    AIR just went ex Divi... it will be interesting how soon they will announce Share Buy Back... possibly around or just after their Annual Meeting 27 Sept...

  10. #10
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    Quote Originally Posted by Paper Tiger View Post
    WRONG!

    WRONG!

    The ex-dividend date it the first date that the share trades without the dividend attached.
    If you sell your shares on ,or after, the ex-dividend date you get the dividend.
    You get the dividend if you 'own' the shares at the close of business on the (working) day prior to the ex-dividend day.

    The record date is 2 working days after the ex-dividend date, and is when the 'paper work' catches up with the buys and sells and when the register is read for the dividend. You do not need to own the shares until or on this date.

    Payment date is further on and when you actually get your paws on the dividend monies.

    As a for instance Opus OIC went Ex-Dividend today, Friday 13th September 2013.
    (The record date is 17th September and the payment date is 1st October).

    If you own them yesterday at close of business the 4c dividend will be yours, and you can sell them today.
    OIC closed at $1.91 yesterday, when I last looked at it NZX quoted it at $1.86 down 1c, that is down 1c on the theoretical ex-div price of $1.91-0.04 = $1.87.

    Best Wishes
    Paper Tiger
    Thanks Paper Tiger

    So are you saying that record date effectively means pretty much nothing?

    Also, you say you need to 'own' the shares at closing the day before the ex date. So say they go ex dividend on a Wednesday, if you put at order through on Tuesday with say ASB that was successful, do you 'own' the shares on that Tuesday and therefore collect the dividend, or does it take a couple of days 'for the paperwork to catch up' as you say and therefore the seller still collects the dividend as the sale hasn't been processed yet?

    NBT
    Last edited by nextbigthing; 13-09-2013 at 03:33 PM.

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