Crius Energy Trust Tr Unit CRIUF

Ex distribution day

[deisman03]

Well you have to be a holder on record by Aug 29. That means for some yesterday was the last day to buy and have your shares on record to get the distribution. For others today is the last day, now that Scotiabank has changed their policy to two days turnaround in recording sales. 

What happens tomorrow and again on Tuesday??? I'm expecting a quick dip and maybe another buying op for some. To bad I'm tapped out for now. One thing very few units trade at the bottom of most dips and the same for the top. That's why you can't trust the last price at the end of the day. 

There were a few large trades over the last few days which amounted to over 100,000 units. I suspect those trades were between institutions or professionals looking for a quick turnover. 

The short numbers are so low as to be non existent so don't expect short covering to save the price, which IMHO will steadily creep up to the high C$10 range by the end of the year then settle down untill the direction of the wind changes. 

GLTA the good folks here. 

[Kisu]

Goes ex-div on the 29th so Monday is the last day to buy for the divy.

[deisman03]

Depends on which institution you deal with. If you deal through Scotia and a few others they now have a two day recording time. Some brokers have a privileged real time recording. Maybe because they purchase directly from the company????? Scotia used to have a three day lag time to get the units/shares recorded. Bit better now. 

[maypeters]

Do you have any documentation for this? I think you are confused between the record date for dividend payment and record date for shares purchased from the DRIP on dividend payment. What you are saying makes no sense because you can buy 10K shares of KWH.UN on Monday (Aug 28) with one broker (with 3 day record time as you say) and sell tomorrow and be eligible for the dividend and buy the 10K

[Sukhi19]

In my opinion, Ex-Div date has nothing to do with brokerage. It is related to TSX or whichever exchange the company trades on. Only exception is DRIP participation.  If you buy KWH.UN today you will get the distr and if you buy tomorrow, you won't.  It is due to this reason that usually Unit price/SP of a stock pulls back by the amount approx equal to dividend/distr amount.

[Sukhi19]

Correction: Pullback is on ex;div date.

[maypeters]

Actually it is a fact more than an opinion.

[bcsc]

From a message I recieved from TD Direct Investing on Aug 14, 2017 "Beginning on September 5, 2017, the settlement cycle for equities, corporate and long-term government bonds, mutual funds and ETFs will be shortened from the date of trade execution (T) plus three business days (T+3) to T plus two business days (T+2). Canadian investors will benefit from greater harmonization of global

[bcsc]

Sorry my bad, ex-div date should be record date less 1 not 2 after the change.

[deisman03]

This /\, I received the same notice a couple of days ago. 

[bcsc]

As specified in the message that we both recieved, this does not take effect to Sept 5 ,2017 so does not effect the Aug 29 ex-div date for the Aug 31 Record Date.

[maypeters]

Thank you BCSC and others who brought this up. Please find more colour below - I have also confirmed the same with Brokerage. The changes are for all brokerages in Canada as well as USA.  As I understand it - both US and Canada are moving to T+2 on September 5, 2017 to bring it in line with other international markets.  What this will do will be to move the ex-dividend date one day

[deisman03]

This is true but if you purchase on Aug 29 you likely won't get the dividend. Today would normally be the last day and depending on how slow your brokerage is, yesterday may have been the last day to be on record on time. 

[deisman03]

Not trying to be contrary here but the message states "T + 3 reduced to T + 3" That means the day you purchased the units/stock doesn't count. 

[maypeters]

Not sure what message you are referring to. Now they are moving to T+2 (Trade date + 2 business days)

[deisman03]

Sorry for the confusion. I was clarifying a PM. The T+2 won't be available until after Sept 5.  Some people aparently deal with brokerages that will have them on record if they bought yesterday and even today before the close. It's expensive though and I prefer to do my own trading in self directed accounts. 

[maypeters]

Not it only is it not possible but it is also illegal. Same playing field when it comes to ex divvy date and record date. Whoever told you they are getting this deal with their brokerage are taking you for a ride or have no clue how things work.

[deisman03]

[maypeters]

Deisman03: This has nothing to do with whether a brokerage is fast or slow. Ex-dividend date is the same for everyone in the world for that particular stock. Regardless of location / brokerage / gender. 

[deisman03]

Give the people at your bank or brokerage institution a call and find out from the horse's mouth. At least 24 hours after you purchase, depending on which institution you use there will always be a date of record that will be different from the date of purchase. The date of record at this moment out of Scotia is on the third day, not including the day of purchase. It's the same for most