I've been a good lil kid and read a bunch of the dividend threads but just wanted to get this right as I'm still not sure.
Now I know to receive the dividend for an equity you must be the holder of those shares at the CLOSE OF TRADING the DAY BEFORE its nominated ex-dividend date.
But what I am wondering is whether to be 'THE HOLDER' of those shares you have to have actually placed the transaction 3 days prior or so - as the whole process takes approx 3 days to complete the sale???
Reason I ask, is I bought a parcel of IAG shares through Comsec on 27th AUG - ex-dividend date for IAG was 30th AUG.
So I've a hunch that I WILL NOT receive the dividend for these shares?
So do you need to transact how long before the ex-dividend date to be safe?
Sorry for the lame question.......clarity on this simple matter would be great.
Thanks in advance