After The Ex-Dividend, Your Payment Date

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 |  Includes: AAPL, ACE, AFCB, AMTD, AOS, AT, BTE, BTU, CFD, CPNO, CRT, DNP, EDR, EPB, ETF, EV, FAX, FT, FTF, FULL, HGT, IRC, KMI, KMP, LBAI, LNT, LRE, MS, MTR, NBH, NBO, NBW, NDRO, NI, NNN, NRC, NWN, OHI, PBSK, PBT, PSEC, ROYT, SJT, SPH, STB, SUSQ, TAI, TLP, VALU, WES, WYNN
by: Russell Gold

When investing in dividend stocks, there are a few important dates to keep in mind. These meaningful dates tell an investor when he or she collects the dividends and or if they are even eligible to collect the most recent dividend.

What does the Ex-Dividend date mean?

The Ex-Dividend date is the most important date in dividend investing. Ex-Dividend is the day on which all shares purchased and sold no longer come with deserved-to-be-paid the most recently declared dividend. It is just as important for investors, however, since you must own a stock before the ex-dividend date in order to receive the next scheduled dividend.

Prior to ex-dividend date, the stock is said to be cum dividend "with dividend," and remaining share holders of the stock and anyone who buys it will receive the dividend, whereas any holders selling the stock lose their right to the dividend. On and after this date the stock becomes ex dividend "without dividend," and remaining share holders of the stock will receive the dividend even if they now sell the stock, whereas anyone who now buys the stock will no longer receive the dividend.

What does the record date mean?

Record date is automatic for shares purchased before the ex-dividend date.

What is the payment date?

The payment date or "payout date" is the day when the dividends will actually be delivered to the shareholders of a company and credited to brokerage accounts.

What is the declaration date?

The declaration date or "announcement date" is the day on which a company's board of directors announces its next dividend payment.

For instance, Apple's AAPL Board of Directors officially declared a $2.65 dividend per share on July 24, 2012. The dividend is payable on August 16, 2012, to stockholders of record as of the close of business on August 13, 2012. The ex-dividend date is August 9, 2012.

Below is a list of stock types (common shares, preferred shares, ETFs, ETNs ADRs) and bonds reporting an ex-dividend date July 27, 2012.

Company

Name

Ex-Div

Date

Pay

Date

Dividend Yield

(July 25, 2012)

Ace Limited ACE 7/27 8/21 2.71 %
Athens Bankshares AFCB 7/27 8/17 1.38 %
Ameritrade AMTD 7/27 8/14 1.55 %
A.O. Smith AOS 7/27 8/15 1.63 %
Atlantic Power Corp AT 7/27 8/31 8.08 %
Brookfield Canada Office Prop. BOXC 7/27 8/15 9.01 %
Baytex Energy Corp BTE 7/27 8/15 6.30 %
Peabody Energy BTU 7/27 8/21 1.78 %
Nuveen Diversified Fund CFD 7/27 8/1 8.24 %
Capano Energy CPNO 7/27 8/9 7.85 %
Cross Timbers Reality Trust CRT 7/27 8/14 7.01 %

DNP Select Income Fund DNP

7/27 8/10 6.76 %
EAA Entergy Arkansas Inc EAA 7/27 8/1 5.08 %
Education Reality Trust EDR 7/27 8/15 3.51 %
Entergy Mississippi Inc. EMQ 7/27 8/1 5.59 %
Entergy Mississippi Inc. EMZ 7/27 8/1 5.19 %
El Paso Partners Pipeline EPB 7/27 8/14 6.27 %
Enterprise Products Partners EDP 7/27 8/8 6.27 %
Aberdeen Emerging Markets ETF 7/27 8/17 1.40 %
Eaton Vance EV 7/27 8/10 2.79 %
Aberdeen Asia-Pacific Income FAX 7/27 8/17 5.33 %
Aberdeen Global Income FCO 7/27 8/17 5.91 %
Franklin Universal Trust FT 7/27 8/15 6.25 %
Franklin Templeton Limited FTF 7/27 8/15 6.48 %
Full Circle Capital Corp FULL 7/27 8/15 11.34 %
STRATS Trust AllState Corp GJT 7/27 8/1 1.51 %
CABCO Ser 2004-1 Trust GYA 7/27 8/15 6.07 %
Hugoton Royalty Trust HGT 7/27 8/14 5.52 %
Inland Real Estate IRC 7/27 8/17 7.13 %
Kinder Morgan Inc. KMI 7/27 8/15 3.97 %
Kinder Morgan Energy Partners KMP 7/27 8/14 6.03 %
Corts Trust Bristol Myers KNR 7/27 8/1 6.27 %

Lankland Bancorp LBAI

7/27 8/15 2.53 %
Alliant Energy LNT 7/27 8/15 3.90 %
LRR Energy L.P. LRE 7/27 8/14 11.41 %
Morgan Stanley MS 7/27 8/15 1.54 %
Mesa Royalty Trust Units MTR 7/27 10/31 4.51 %
Neuberger Berman NBH 7/27 8/15 4.96 %
Neuberger Berman NY NBO 7/27 8/15 4.79 %
Neuberger Berman Calif NBW 7/27 8/15 4.86 %
Enduro Royalty Trust NDRO 7/27 8/14 9.90 %
NiSource NI 7/27 8/20 3.82 %
National Retail Properties NNN 7/27 8/14 5.33 %
National Rural Utilities NRC 7/27 8/20 5.87 %
Northwest Natural Gas NWN 7/27 8/15 3.69 %
Omega HealthCare Investors OHI 7/27 8/1 7.02 %
Poage Bankshares Inc. PBSK 7/27 8/15 1.33 %
Permian Basin Royalty Trust PBT 7/27 8/14 4.84 %
PreferredPlus Trust PIS 7/27 8/1 8.37 %
Prospect Capital Corporation PSEC 7/27 8/24 10.99 %
PPLUS Trust PYA 7/27 8/1 6.74 %
Pacific Coast Oil Trust ROYT 7/27 8/14 10.60 %
San Juan Basin Royalty Trust SJT 7/27 8/14 3.90 %
Suburban Propane L.P. SPH 7/27 8/7 7.85 %
Student Transportation Inc. STB 7/27 8/15 8.83 %
Susquehanna Bancshares SUSQ 7/27 8/20 2.35 %
Transamerica Income Shares TAI 7/27 8/15 6.19 %
Transmontiagne Partners L.P. TLP 7/27 8/20 7.18 %
Texas Instruments TXN 7/27 8/9 2.55 %
Value Line VALU 7/27 8/13 4.90 %
Western Gas Partners L.P. WES 7/27 8/7 4.28 %
Wynn Resorts WYNN 7/27 8/14 2.16 %
Corporate Backed Trust Cert. XFR 7/27 8/1 5.94 %
Click to enlarge

Note: It is common for a stock's underlying price to decrease on the ex-dividend date by an amount approximately equal to the dividend. This reflects the decrease in the company's assets resulting from the declaration of the dividend.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.