GREY:CRIUF - Post by User
Comment by
deisman03on Aug 28, 2017 5:04pm
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Post# 26629854
RE:RE:RE:RE:RE:RE:Ex distribution day
RE:RE:RE:RE:RE:RE:Ex distribution daymaypeters wrote: Actually it is a fact more than an opinion.
Sukhi19 wrote: In my opinion, Ex-Div date has nothing to do with brokerage.
Ita 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.
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 institutions that deal sponsor or support a lot of brokers.
24 hours for the bank to record, then another 24 hours for the TSX?? and another 24 hours for the company/trust/fund to record is what I was told. In this day and age of computer money transfer and information transfer it should all take about 3 seconds after the trade is made.
Maybe they like holding our money, interest free, to collect a daily interest rate on the balance?????