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Great Post!!
my pleasure
@dnwill - truly thank you mate. I'm new to investing. Just been doing it a couple of months. Learning a lot. Now it's crystal clear. Thanks for taking the time to explain that.
Wow, still a lot of confusion. Luke13, I'm afraid you've still not understood:
If you hold the share at close of market today, you will get the dividend.
If you buy the share tomorrow or later you will not get the dividend.
If you SELL the share tomorrow or later, you WILL get the dividend.
The difference between the ex-dividend date and the register date is due to the normal settlement cycle of securities which is Trade Date (T)+2. Thus, any stock bought today (22nd January, the last day to qualify) settles (and thus enters on the register) T+2 days later which is Friday 24th January.
22nd January is last day to own the shares and get the dividend - settles and register updated on 24th Jan
23rd January is first day not to qualify and thus the "ex-dividend date" - settles and register updated 25th Jan, day after the cutoff
Similarly, if you sold tomorrow, 23rd January, your sale would not settle and your name not be removed from the register until Monday, by which time you will have already qualified for the dividend by nature of still being on the register on the 24th.
Some homework reading: https://en.wikipedia.org/wiki/Ex-dividend_date
It's a copy of the RNS that was released 6 days ago. Nothing new there.
...worth a read though, if you didn't bother on the 16th.
@dnwill - many thanks for that PDF link. It confirms we have to be holding at cob on friday to get the special.
It'll be ex div tomorrow, but you wouldn't want to sell before COP on the 24th and miss the register would you...
"The Special Dividend will be paid on 14 February 2020 to holders of ordinary shares recorded on the register as at the close
of business on 24 January 2020. The ordinary shares will go ex-dividend on 23 January 2020."
When RNS states the SP goes ex dividend on the 23rd, then that's good enough for me.
I was of the understanding that any post dividend selling would occur on Monday the 27th as the qualifying shareholder register is to be taken at cob on the 24th...
Interesting to see what the SP opens up tomorrow. 12.6p less than today's close by all accounts. If it does open at 42p, I'll certainly be topping up!
The ex-dividend date is Thursday 23rd January (tomorrow). Ex-dividend date means the date that shares no longer qualify for the dividend.
Thus, the last day to buy shares to qualify for the dividend is today, Wed 22nd January. Any post dividend selling / adjustment will start from tomorrow.
http://otp.investis.com/Utilities/PDFDownload.aspx?Newsid=1359273
@xNoz - not a silly question at all after that article is saying -
"The intellectual property commercialisation business said the dividend is payable on February 14 to shareholders on the register at the close of business Friday next week. The last trading day with interim dividend rights is Thursday next week."
Very confusing. Maybe if you sell them on the friday morning, you are still classed as on the register at the close of business on friday because you were actually holding them as friday opened.
Maybe a bit of a silly question but is the ex-divi date 23rd / 24th? Basically when will the divi-crowd be selling? Morning of 25th?