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Contract effected Ex-Dividend
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Umiamz
Posts: 594 Forumite
I've just put a lump sum into an equity income fund on IWeb. The trade confirmation says 'This contract was effected "Ex-Dividend"'. I know what the Ex-Dividend date is in relation to dividend payments but I'm not sure what IWeb mean by the contract being effected Ex-Dividend. Can anybody enlighten me, please?
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Comments
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It means you are buying a share of the company WITHOUT entitlement to the most recently announced dividend. Once it went ex-div, shares are bought and sold 'ex' (without) entitlement to getting that next dividend payment; the payment is only going to be received by people who held it at the record date.2
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Ah, OK - that's what I expected, anyway. Thanks for the explanation.0
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