rjs, as always you find the best stuff... "FINR
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Posted On: 01/29/2019 2:16:50 PM
rjs, as always you find the best stuff...
"FINRA Rule 11140(b)(1) concerns the determination of normal ex-dividend and ex
warrants dates for certain types of dividends and distributions. Currently, with respect to cash
dividends or distributions, or stock dividends, and the issuance or distribution of warrants, which
are less than 25% of the value of the subject security, if the definitive information is received
sufficiently in advance of the record date, the date designated as the “ex-dividend date” is the
second business day preceding the record date if the record date falls on a business day, or the
third business day preceding the record date if the record date falls on a day designated by
FINRA’s UPC Committee as a non-delivery day. Under the proposal, the “ex-dividend date” would be the first business day preceding the record date if the record date falls on a business
day, or the second business day preceding the record date if the record date falls on a day
designated by FINRA’s UPC Committee as a non-delivery date. "
So if FINRA is notified by the company "sufficiently in advance of the record date" then the ex div date is "the first business day preceding the record date".
Creek, maybe the SEC site has not updated their info to FINRA's newer rules?
"FINRA Rule 11140(b)(1) concerns the determination of normal ex-dividend and ex
warrants dates for certain types of dividends and distributions. Currently, with respect to cash
dividends or distributions, or stock dividends, and the issuance or distribution of warrants, which
are less than 25% of the value of the subject security, if the definitive information is received
sufficiently in advance of the record date, the date designated as the “ex-dividend date” is the
second business day preceding the record date if the record date falls on a business day, or the
third business day preceding the record date if the record date falls on a day designated by
FINRA’s UPC Committee as a non-delivery day. Under the proposal, the “ex-dividend date” would be the first business day preceding the record date if the record date falls on a business
day, or the second business day preceding the record date if the record date falls on a day
designated by FINRA’s UPC Committee as a non-delivery date. "
So if FINRA is notified by the company "sufficiently in advance of the record date" then the ex div date is "the first business day preceding the record date".
Creek, maybe the SEC site has not updated their info to FINRA's newer rules?
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.
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