Could somebody please let me know how dividends work in regard to CFD's. When do you have to buy the CFD to be eligible for the dividend, before the ex-div date or before the record date?
For example WBC interim dividend of 56c goes ex dividend today 18/05/09 however the record date is 22/05/09. When would the CFD need to be bought in order to receive this dividend?
Also how does it work the other way around. Would it be possible to short a stock the day before it goes ex div then sell it on the ex div day without having to pay the dividend?