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Mutual Fund: Buy on dividend distribution (report) date?

3K views 0 replies 1 participant last post by  MC25 
#1 ·
Hi everyone. New member here. I wanted to make a contribution into my RRSP's, and It was on the Feb 29th cut off date. Now, the funds I chose distributed their dividends on the same date.

First question: Would the fund have reported the dividend prior to that date, or is Feb 29 the report and distribution date? I am aware that March 1 would be the ex dividend date, and I wouldn't be eligible for that dividend.

Second question: If Feb 29 is indeed the reporting date, and I submitted my order on Feb 29, but it was not completed on the market until March 1, am I still eligible for the dividends?


I am thinking that if I did buy it proceeding the dividend, I would have bought it at a lower price as the NAVPS would have dropped after the distribution so it wouldnt be a big deal, Im just trying to clarify the reporting and distribution dates and rules for buying on those dates.
 
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