RE:RE:price dropped for usual reasonPeople that sold today get the dividend.
What I am never sure of is whether or not they can sell before the stock gaps down the $.89 dividend I don't think so.
So it closed at $54.54 yesterday subtract the $.8875 div and you get $53.65 so it dropped $,59
Not bad but not worth trading either.
Typically, the ex-dividend date for a stock is one business day before the record date, meaning that an investor who buys the stock on its ex-dividend date or later will not be eligible to receive the declared dividend. Rather, the dividend payment is made to whoever owned the stock the day before the ex-dividend date.
https://www.investopedia.com/terms/e/ex-dividend.asp Go Enbridge! ;-)
oskee7777 wrote: Confused on your post. The price historically has risen on Ex dividend date. It drops after record date. People get their dividends and then sell.
why would people sell purposely on the day they will be recorded for an 89 cent per share dividend?
Apologies if I'm not understanding.