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Mutual fund dividend payment question
Posted on 8/25/09 at 3:36 pm
Posted on 8/25/09 at 3:36 pm
Right now I am in Vanguard Wellington and have gotten the gains I wanted and am thinking about switching to Wellesley to stay more conservative. Question is, if both funds pay out dividends at the end of September and I switched right now, will I get the payment from Wellington, Wellesley, or neither?
Posted on 8/25/09 at 3:54 pm to Rush2112
Which one will you own on the ex-dividend date is the one. Example is if the ex-dividend date is 9/30/09, then the one you own on that date is the one that you will receive any distributions for.
Posted on 8/25/09 at 4:05 pm to CHSBears
Don't you have to hold it for a certain amount of time before they pay you any dividends? I was pretty you couldn't just buy shares right before the payout day and expect to get dividends.
Posted on 8/25/09 at 10:37 pm to Rush2112
I believe CHSBear is correct except that if you purchase the fund on the exdividend date you do not get the gain. If you own it the day before, the "record" day then you do get the gain. Also remember if you get the gain you will have to pay taxes on it unless you have it in a tax deferred account such as an IRA.
To be sure I would check with the Vanguard people. Both of these funds are theirs and I've always found them to be very helpful assisting me.
To be sure I would check with the Vanguard people. Both of these funds are theirs and I've always found them to be very helpful assisting me.
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