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> If I sell today, will I still receive the dividend? Or do I need to wait til tomorrow to sell? The 5 point expected drop has virtually recovered as of writing this at 2.20pm and that is confusing me.
Yes, on ex-div day; you can sell and still get dividend.
Brave
Please read my post at 20.25 yesterday and Rats, also my other posts regarding this matter. It explains why people are confused.
If I sell today, will I still receive the dividend? Or do I need to wait til tomorrow to sell? The 5 point expected drop has virtually recovered as of writing this at 2.20pm and that is confusing me.
Main reason is that the Company are not in control of buying decisions - it's a merchant bank (JP Morgan in this case) making the trading decisions based on the LSE guidelines and company's resolution that allows the buyback. I imagine it's a LSE/PRA/FCA rule meaning trading decisions need to be arm's length.
Secondary to this is it would make not effective difference. In a perfect market with no external factors, the SP would drop by the amount of the dividend on ex-div day then rise slowly towards the next ex-div day.
Of course, that never actually happens in reality as there are are multitude of other factors in play (general market sentiment, sector sentiment, wars, GDP figures, issuing too many bonds in US! ......, the list is almost endless).
Thats also the reason the SP doesn't increase automatically in line with the buybacks. In theory, if they bought-back 1% of the issued shares in a day, the SP would rise by 1% (to keep the yield and EPS he same) over that day, but it's the other factors that mean it will almost certainly never happen exactly in line with the buyback.
Yes Barclays has always been a good investment but like any bank the biggest worry is the grim reaper the FCA. In the trade we called them the FuCuArs. That word is made up with three words, two ending with ing and the last hole 😊
Barcs were the first share i bought in 2008 when i had a pay out from a unit trust plan i took out as a teenager, £12.5k, i paid two and six (12.5p) per month for it, with that money i bought Barcs shares and started my interest in trading shares, i have an affection for Barcs.
Why did Barclays buy shares yesterday when they could have purchased today after the ex dividend was deducted from the share price. They would have paid a lot less for them today. Cannot work that one out.
Roddle1
you've done the right thing holding mate.... dont join the "quick buck brigade"
these shares are still undervalued... hang firm for the uplift. x
Barclays purchased 4,194,000 shares yesterday to cancel. Volume weighted average price paid per share: 169.0272p
Those of us who did not sell yesterday are now in front,
Thanks for that insight - it makes total sense. so they seem to be on a strategy of buying about 3m shares a day, spread out throughout the day in relatively small transactions.
It is ex div causing drop
May account for the drop
Working out what i could of sold for at close yesterday and taking away what i can sell for now, then add my dividend expected, and i now require this to raise to over 163.50 to be in front, i am currently £638 worse off by not selling, i am optpmistic, touch wood.
The buyback is at arms length by the approved broker to avoid conflict of interest. BARC have no input into the timing of the buybacks once formal approval has been given, which of course it has.
Stupid me and I have been playing this lark for over 30 years.
Grrr.
Ah of course. Silly me 🤦♂️
Friday surely
5.3p dividend..... It's ex dividend day today
Does the market think its gone XD?
Something happen?
It is interesting (I think :) ) to see that Barclays are buying somewhere in the order of 10% of the shares that are being traded at the moment.
The bit that surprises me is that they are already buying them, I am an optimist, but feels to me that they do not believe the price will fall much lower than the dividend value today, if at all.
It will be interesting to see...
Rats. Thanks for pointing that out and must be the answer. If you sell today, your name would still be on the register tomorrow due to the delay in recording.
Cut and pasted from the net. To receive the upcoming dividend, shareholders must have bought the stock before the ex-dividend date. There are four dates to know when it comes to companies' dividends: the declaration date, the ex-dividend date, the record date, and the payable date.
Cut and pasted from Barclays web page. The full year dividend for the period ended 31 December 2023 of 5.3p per ordinary share will be paid on Wednesday 3 April 2024 to shareholders holding shares on the register on Friday 1 March 2024.
I find it really strange, there is no mention of the ex dividend date. the date you can sell shares and still get the dividend. Barclays are basically implying you have to hold onto the shares until 1st March to qualify for the dividend, this is not the case I find this very misleading and can see why people are confused.