Series 7 - General Securities Representative Exam
Orange Corporation just announced a $.35 cash dividend. If the record date is Tuesday, June 18th, what is the last day a new buyer of the stock can buy shares and receive the dividend?
The ex-dividend date is Friday, June 14th; which is 2 business days before the the record date. New investors have to buy a stock BEFORE the ex-dividend date to receive the dividend. So, the last day an investor can buy and receive the dividend is Thursday, June 13th.