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Posted On: 11/10/2018 11:22:05 AM
Post# of 36519
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Re: TraderAkira #158
Quote:
Based on that last paragraph, I read it as follows:
If you buy 100 shares next week, lets say on 11/14, you will receive the 100 shares in your account on 11/16 (T+2). On 11/19, the person that sold the 100 shares will have to deliver to you the 2000 share dividend that he/she receives for those 100 shares under the "due bill". I assume his/her broker would be required to make sure that transaction takes place.
Therefore, any transaction prior to 11/19 should require the seller to forward the dividend shares he/she receives on 11/19 to the buyer. On 11/20, any share transactions will now include the dividend shares in each holders account, and therefore, a 100 share transaction will only require delivery of 100 shares, not 100 shares plus 2000 divi shares.
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