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Moving money out of savings accounts, do you lose the upcoming dividend?

Posted on 11/10/22 at 11:42 am
Posted by NATidefan
Two hours North of Birmingham
Member since Dec 2008
36776 posts
Posted on 11/10/22 at 11:42 am
Lets say your dividend is paid quarterly and you empty the account right before it is paid to put it somewhere else... do you lose the dividend you were about to earn?

Is this bank dependent and everyone does it differently?

Just curious, thanks.
This post was edited on 11/10/22 at 11:44 am
Posted by TeaParty
Member since May 2022
935 posts
Posted on 11/10/22 at 11:44 am to
Fairly certain you have to own it a certain day and hold until payment is made
Posted by LSUcam7
FL
Member since Sep 2016
8856 posts
Posted on 11/10/22 at 11:44 am to
I would think it’s based on a daily accrual of the month.

Also can’t imagine it’s a ton of money you’d be foregoing anyways unless you post on the OT.
Posted by NATidefan
Two hours North of Birmingham
Member since Dec 2008
36776 posts
Posted on 11/10/22 at 11:45 am to
quote:

Also can’t imagine it’s a ton of money you’d be foregoing anyways unless you post on the OT.


No, not alot. Just curious.
Posted by thunderbird1100
GSU Eagles fan
Member since Oct 2007
71580 posts
Posted on 11/10/22 at 12:18 pm to
Example of SCHD Dividend

4 dates to take note of:

Declaration Date - Date the company announces it will do a dividend for

Ex-Divided Date - Not in the link above, but it's 1 business day before the Record date...this is the day you have to own the stock on to get a divided for it

Record Date - Date the company compiles the list of people who owned stock on ex-dividend date to pay a dividend to

Pay Date - Date the dividend is paid

You want to own the stock on the ex-dividend date, or 1 business day before the record date.
This post was edited on 11/10/22 at 12:19 pm
Posted by rocksteady
Member since Sep 2013
2361 posts
Posted on 11/10/22 at 5:30 pm to
In my experience stuff like savings accounts and money markets are usually accrued daily and you would be paid that when closing
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