As I said on the RTO board:-As an aside, if the xd date is Thursday 10th May, the record date is presumably Monday 14th May (the usual 2 working days after the xd date), and payment is scheduled for the day after - on Tuesday 15th May. That seems jolly efficient to me - why can't all companies be this good?The announcement says that the dividend will be paid to shareholders "on the register" on May 10th - that's a description of the record date, not the xd date. So it would imply that the xd date is two days earlier, on May 8th.It's not very believable, though, because xd dates are just about always arranged to be Wednesdays - the only common exception is when the Wednesday is a bank holiday, which only occurs for the Christmas, Boxing Day and New Year bank holidays.So, suspecting an error, I checked the company's RNS announcements and found that they'd corrected the error - see http://www.investegate.co.uk/Article.aspx?id=201203021137205... . The record date is in fact Tuesday 10th April; due to the Good Friday and Easter Monday bank holidays, the ex-dividend date two working days earlier is Wednesday 4th April. So I'm afraid they haven't become "jolly efficient" after all...Gengulphus
© Copyright 1998-2014, The Motley Fool Limited. All rights reserved. This material is for personal use only.The Motley Fool, Fool, and the "Fool" logo are registered trademarks of The Motley Fool, Inc.Place of Reg: England & Wales. Company Reg No: 3736872. VAT Reg No: 945 6990 68. Registered Office: 5th Floor, 60 Charlotte Street London W1T 2NU.
Page load time and server: