The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: Transferring stocks to a charity after ex di||Date: 1/2/2014 7:49 PM|
|Author: irasmilo||Number: 119786 of 125700|
ROIC went ex div on December 12.
I transferred ROIC shares to a charity on December 13.
The dividend was paid to the charity.
I called Schwab on this. They checked and verified that apparently the transfer date and not the ex date applies to share transfers. I guess the dividend accrues to the shares and not the owner of the shares, or something.
I think the answer you got was wrong. I would speak to someone in Schwab's compliance department and request a citation to support their decision. If you had sold the shares on Dec 13, the dividend would have been yours, not the buyer's. In the absence of specific instructions from you to transfer the dividend along with the shares, the dividend still belongs to you.
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