Posted On: 10/07/2015 11:55:53 PM
Post# of 11040
...it is there because of what is known as a due bill procedure...
Quote:
gonzilee Member Level Wednesday, 10/07/15 11:41:08 PM
Re: 1manband post# 38545
Post # of 38566
it is there because of what is known as a due bill procedure that occurs when a person who owned on the record date sells their stock prior to the ex dividend date and is purchased by another buyer before the ex date. the on record purchaser would then forfeit his right to the divy and the new holder of those shares that purchased them before the ex date would then be entitled to that divy by what is known as a due bill which would have been attached to the on record shareholder's shares when he sold them.
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