Jezzamus - no you don't - the shares go ex dividend on 7 March - that is if you buy a share on the market on or after that date you don't get a dividend. If you sell the share on the market on or after that day you still get the dividend. The record date is 8 March - all shareholders on the register at that date will receive dividends. The different dates are allow market settlement which is T+2 and for registry to update all trades from prior to the ex dividend date. The actual payment of the dividend happens in April so whilst you have to wait for the known payment you can still have sold your shares and got your capital back in your bank account.
This is usual stuff for the big buys who buy some serious volume simply for a quick dividend yield on the basis that the share price won't drop as much as the dividend when the share price goes ex dividend. Not really worth it for mas and pas investors but it is for insto's and the like as their transaction costs are small as a % wise.
EPW Price at posting:
$1.18 Sentiment: None Disclosure: Not Held
