Bullboard - Stock Discussion Forum Canadian Imperial Bank of Commerce T.CM

Alternate Symbol(s): CM | T.CM.PR.P | T.CM.PR.Q | T.CM.PR.S

Canadian Imperial Bank of Commerce is a Canada-based financial institution. The Company has 13million personal banking, business, public sector and institutional clients. Across personal and business banking, commercial banking and wealth management, and capital markets businesses, the Company offers a full range of advice, solutions and services through its digital banking network and... see more

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TSX:CM - Post Discussion

Canadian Imperial Bank of Commerce > Ex-Dividend Sept. 27/23...

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Post by joebravo on Sep 26, 2023 7:21am

Ex-Dividend Sept. 27/23...

I don't pay too much attention to ex-dividend because I've held CM stock for a while now, but a question if anyone cares to reply.

From my understanding, even though tomorrow is ex-dividend, those who buy today do not qualify for the dividend because you actually need to settle your account by tomorrow. So, would you not have to have purchased CM shares either last Friday or the latest, yesterday?

I could be wrong, but if anyone could clarify this, I would appreciate it. Thanks.

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Comment by Eastbank on Sep 26, 2023 4:15pm

You had to buy CM today the 26th to own it on record date Sept 28th in order to receive the dividend.

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Comment by joebravo on Sep 27, 2023 6:05am

Thank you Eastbank. I had the impression funds needed to be settled for any transaction, but I was wrong. Hopefully we see some form of rebound soon. Either way, all Canadian banks are good long term holds, IMO.

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