RE:RE:RE:RE:RE:7.5 cent special dividend plus 2.2 cents regular dividendBecause I have been burned by this before, I thought I would clarify that the record date for the dividend is November 16, 2016. This means that only share purchases that settle by this date are eligible for the 0.055 cents dividend. Usually, most stocks have a T+3 settlement, meaning they go ex-dividend 3 days before the record date. How
However, as this is listed on the TSXV, I think the TSXV has a T+2 settlement (as there is a push to go to T+2 by 2017), so I think all purchases up to and including today will be eligible for the dividend on the 16th.
Just wanted to clarify this for people as I have been burned by the difference between record date and ex-dividend date before. It would be really nice if, in the press releases, they state the ex-div date so there would be no confusion.
That said, I purchased shares yesterday, and they show a settlement date of November 17th on RBC Direct investing, so who knows...
This, of course, will be come much more important for the special dividend. The TSX actually has a procedure in place to attempt to avoid this confusion called 'due bills', but I don't believe they are making use of it. I believe it is only typically used for distributions greater than 50% of stock price.
Anyways, I am still very bullish on the stock, like all of you!