Interim dividend timetable

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The price of the shares — all else being equal — will adjust to reflect the fact that investors who buy on this date or later won't receive the payment.

In effect, you get to buy the shares at a discount as compensation for not receiving the next dividend. In a similar vein, buying the stock the day before the ex-dividend date doesn't make you any better off; you get the dividend, but the stock will cost you more than if you'd waited until the next day — again, all else being equal. Now, it's important to understand that when a stock goes ex-dividend its price doesn't necessarily fall by the exact value of the dividend.

In fact, the stock could even rise, because prices are subject to all sorts of forces on any given day. Crescent Point's monthly dividend is 23 cents, but on the ex-dividend date the stock fell by 41 cents. Now to the question of why you didn't receive the dividend.

At first glance, it seems as if you should have. After all, you placed your order on May 28, three days before the record date of May But if you check the calendar, you'll see that May 31 was a Saturday — a non-business day.

As a result, the trade you placed on May 28, a Wednesday, didn't settle until three business days later on Monday, June 2 — after the record date had already passed. You would have had to purchase the stock on May 27 to get the dividend; you placed your order on May 28, which was the ex-dividend date. It's worth repeating that buying before the ex-dividend date doesn't make you richer, and buying on or after the ex-dividend date doesn't make you poorer.

If that were the case, everyone would buy stocks just in time to pocket the dividend, then quickly sell them and move on to the next opportunity. Unfortunately, no such free lunch exists. Still, it's important to understand the various dividend dates to save yourself from unnecessary stress when a dividend you thought you had coming doesn't arrive. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way.

Click here to subscribe. If you would like to write a letter to the editor, please forward it to letters globeandmail. Readers can also interact with The Globe on Facebook and Twitter. Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments. Read our community guidelines here. Article text size A. John Heinzl Investment Reporter. Published June 20, Updated May 12, Story continues below advertisement.

Follow John Heinzl on Twitter johnheinzl. Report an error Editorial code of conduct. Tickers mentioned in this story Data Update Unchecking box will stop auto data updates. Log in Subscribe to comment Why do I need to subscribe? I'm a print subscriber, link to my account Subscribe to comment Why do I need to subscribe? We aim to create a safe and valuable space for discussion and debate. By Custom Date Range. Sat, 05 Jan 19 Use the compare function checkboxes to select specific stocks you want to compare, then click "Compare".

Changelog Apr 29th, Added ETF stock page. Add Dividend Payable Date. T Power Financial Corporation 4. Shares Series T Jan 9, Jan 31, 5. P Power Financial Corporation 4. S Power Financial Corporation 4. K Power Financial Corporation 4. L Power Financial Corporation 5. Z Power Financial Corporation 5. Series V P Jan 9, Jan 31, 5. F Power Financial Corporation 5. E Power Financial Corporation 5. Shares Series D Jan 9, Jan 31, 5.

R Power Financial Corporation 5. H Power Financial Corporation 5. O Power Financial Corporation 5. G Power Financial Corporation 5. I Power Financial Corporation 6. Jan 10, Feb 8, 0. Jan 11, Jan 25, 2. Jan 14, Jan 31, 1. Limited Jan 14, Jan 29, 3. G Brookfield Asset Management Inc. K Brookfield Renewable Partners L. M Brookfield Renewable Partners L.

E Brookfield Renewable Partners L. G Brookfield Renewable Partners L. I Brookfield Renewable Partners L. A Capstone Infrastructure Corporation cumulative five-year rate reset preferred shares series A Jan 14, Jan 31, 6. Jan 14, Dec 31, 7. UN Low Volatility U. Equity Income Fund Jan 14, Jan 31, 5. A S Split Corp. Preferred Shares Jan 14, Jan 31, 5. B Shaw Communications Inc.

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