A lot of companies only quote the record date when they announce dividends, not the ex-div date. This can cause a lot of confusion, especially with new investors. I would like to see the ASX make it mandatory for companies to quote the ex-div date as well.
Each dividend has a Record Date, ex dividend date and date payable. The Record Date is the date on which the company closes its register to determine which shareholders are registered to receive the dividend.
Shares are quoted 'ex dividend' on the fourth business day before the company's Record Date. To be entitled to a dividend a shareholder must have purchased shares before the ex dividend date.
Buyers on or after the ex dividend date will not receive the dividend because they will not be registered by the Record Date.
Saying this, now I wonder if ex day will be Monday. I know Tuesday is a public holiday in VIC so this could complicate things, hence the reason for the ex date to be tomorrow?
afgha questions and things to ponder., page-11
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