Today is ex-dividend for PEG. That means that if I am long at THE CLOSE I will receive the dividend, and if I am short at THE CLOSE I will owe the dividend - right? Thanks for any replies, I haven't traded a stock with significant dividends before, and I wanted to be sure that it is the CLOSE that establishes ownership.
Yes. If you trade after hours, you want to double check the broker's settlement policies (i.e., if it is still T+3)
Correct me if I'm wrong. It's late, i'm tired and just got in from a holiday dinner. somehow things aren't clear.... When a stock trades ex-div, it is w/o the div. Thus you need to be an owner of record on the close the day before a stock goes ex-div. You'll note the day of ex-div, the stock opened lower by the amount of the div.
Thanks for the responses. I think def is right, and that explains the price action that was confusing me. I thought the dividend was around $2, but I see that it is actually about 50 cents, and that is how much the stock is down. Thanks again.
I am not to clear on the issue of ex dividends, but could you buy the stock a couple of days before the ex-div date or even a week and short the SSF on that issue hedging to a neutral position but profit from the dividend? Thks, Matt