Dividend payout on short position before record date

[huyha123]

Hi all,

I hope someone can help me to understand this.

I shorted ALL (by CFD) on 1st August 2009 and just closed it today, 2nd September 2009. everything is normal except that there is a cost for "dividend paid".

ALL announced the dividend on 25th August 2009. nothing happen to my account then. record date is 8th September 2009. payment date is 29th September 2009.

So I have to pay the dividend even though the day I sell is not even reach record date yet?!

I have read the Terms and Conditions of City Index. They not mention about the date they will pay the dividend (go long) or deduct it (go short). but it should be the same like shares.

 

[awg]

sorry to be the bearer of bad tidings, but it is the ex-dividend date that counts, same as share trades

that is 02/09/09 in this case

below is the link to the ASX page for ALL

I always check the ASX page for this sort of info, as it is reliable

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=ALL

 

[huyha123]

awg,

Thank you very much for your reply.

I see it now. all good then.