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Thus the key date for a stock purchase is the ex-dividend date: a purchase on that date (or after) will be ex (outside, without right to) the dividend. If, for whatever reason, a share transfer prior to the ex-dividend date is not recorded on the register in time, the seller is obligated to repay the dividend to the buyer when he receives it.
I'm talking about not paying attention to the ex-dividend date of a stock I am I know I have, and have wanted to knock my head against the wall for doing it. Don't Lose Track of the Ex-Dividend Date
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The ex-dividend date, i.e. the first date in which a new buyer of shares would not be entitled to the dividend, is the business day prior to the record date (see ex-dividend date for exceptions). In the case of a special dividend of 25% or more, however, special rules that are quite different apply.
Dividend stripping is the practice of buying shares a short period before a dividend is declared, called cum-dividend, and then selling them when they go ex-dividend, when the previous owner is entitled to the dividend. On the day the company trades ex-dividend, theoretically the share price drops by the amount of the dividend.
The stock will then go ex-dividend 1 business day(s) before the record date. Pioneer High IT, which has a current dividend per share of $0.07, has an ex-dividend date scheduled for November 16, 2020.