Any stock pros here? Question, I went short '' OAK'' at 57 ..2000 shares and it is going ex dividend on the 15th do I still get the dividend? I'm still a share holder right or wrong?
The amount of the dividend will be debited from your account. When you short shares, you borrow them from someone in order to sell them. That person(s) still wants their dividend though, so you are the one who pays it.
Since you had broker sell someone elses' shares (you going short), you are liable for the dividend of that person is to get. So not only did you not get to collect the dividend by being long, you end up losing money by being short. Lessons always seems to cost money...best thing to do when thinking of shorting a stock, see if they pay dividends and approx when do they do so.
Funny thread. Sorry, but you have no business in the equity markets if you believe you receive the div on short stock.
I'm here to learn and to ask Questions like many of us I guess your an expert and never ask Questions...lol
I looked up the stock: Ex-Date 5/15/2013 Date of Record 5/17/2013 Payable 1.41 - QRTR Payable Date 5/21/2013 That's $2820 in dividends, so in addition to not knowing the rules, the poster chose a high yielding stock to short. I'd get out on Monday. Alternatively, the poster can learn the rules, hang on, and HOPE the stock drops about $1.40 ex-dividend. Sometimes they do, sometimes they don't...