Q: Just a comment on the changes to the ex-dividend date due to T+2 settlement in Canada and USA from September 5, 2017. Your members may find it useful.
Starting September 5, the ex-dividend date will move one day ahead (only one day before record date). So for instance in the month of August - record date is Aug 31 - ex dividend date is Aug 29.
In September for record date Sept 29 (Since 30 is a Saturday), the ex-dividend date will be Sept 28.
From the CCMA website:
(Added February 22, 2017) Will there be any T+2 impact on record and payable dates?
In Canada, the ex date on declared events such as dividends or other distributions will become one business day prior to record date instead of two business days prior. The exchange on which a security is listed provides the exdate to CDS, and CDS populates the date into its system. In the U.S., there will likewise be a one-day change.
If you want to read up more there is documentation and Qs at the following websites:
US T+2: http://www.ust2.com/questions/
Canada T+2: http://ccma-acmc.ca/en/faq/
Starting September 5, the ex-dividend date will move one day ahead (only one day before record date). So for instance in the month of August - record date is Aug 31 - ex dividend date is Aug 29.
In September for record date Sept 29 (Since 30 is a Saturday), the ex-dividend date will be Sept 28.
From the CCMA website:
(Added February 22, 2017) Will there be any T+2 impact on record and payable dates?
In Canada, the ex date on declared events such as dividends or other distributions will become one business day prior to record date instead of two business days prior. The exchange on which a security is listed provides the exdate to CDS, and CDS populates the date into its system. In the U.S., there will likewise be a one-day change.
If you want to read up more there is documentation and Qs at the following websites:
US T+2: http://www.ust2.com/questions/
Canada T+2: http://ccma-acmc.ca/en/faq/
