RE:Given that the timeframe to settle securities transactionsIn the US from the SEC site they recommend 3 days for settlement but looks like 2 days could also happen as that is what is recommended for dividends. So 2-3 days to settle.
If it's 2 business days prior to the date of record you would need to purchase by end of day tomorrow Thursday, March 25. For 3 days it would be today.
https://www.sec.gov/spotlight/proxymatters/voting_mechanics.shtml
What is a record date?
A record date is a date announced by the company as the official date you must be an owner on the company's records in order to participate in the annual meeting and corporate election. Given that the timeframe to settle a securities transaction in the United States. is generally three days, an investor interested in being an owner on record date would have to purchase the company's securities at least three days prior to the record date.
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For Dividends it looks like 2 days:
- The record date is the cut-off date used to determine which shareholders are entitled to a corporate dividend.
- The record date will usually be the day following the ex-dividend date, which is the trading date on (and after) which the dividend is not owed to a new buyer of the stock.1
- To be eligible for the dividend, you must buy the stock at least two business days before the record date.
Understanding Record Date
The record date is important because of its relation to another key date, the ex-dividend date. On and after the ex-dividend date, a buyer of the stock will not receive the dividend as the seller is entitled to it. A company’s record date is a key concept to understand before buying and selling dividend stocks. The exact definition of a record date may vary slightly between countries, such as between the London Stock Exchange (LSE) and the New York Stock Exchange (NYSE).
The ex-dividend date is set exactly one business day before the dividend record date.1
This is because of the T+2 system of settlement presently used in North America, whereby
stock trades settle two business days after the transaction is carried out. Thus, if an investor buys a stock one business day before its record date, their trade would only settle the day after the record date. They would therefore not be a shareholder of record for receiving the dividend.
Notably, different rules apply if the dividend is 25% or greater of the value of the security, which is quite rare. In this case, the Financial Industry Regulatory Authority (FINRA) indicates that the ex-date is the first business day following the payable date.2
To ensure that you are in the record books, you need to buy the stock at least two business days before the date of record, or one day before the ex-dividend date.1
MarketMoney wrote: is generally 3 days, a investor interested in being a owner on record date would have to purchase the stock at least three days prior to the record date which is set to March 29,2021.
That was my fundamental post of the day :-)
More to follow for technical post during the day!