LDT and Dividends Payable for Foschini

[SEC_MAN]

Hi guys, I just want confirmation please from any one.If i go long 800 CFD on LDT on 16.09.2010 and close my position on 17.09.2010 will i still get the dividends payable of R6.50 per share.This will give me a total dividend payout into my account of R5200.00.Thanks very much in advance.

[Quakedog]

Correct, but be aware of the next day after LDT as it has a tendancy of people getting out like you!! If your not out in time you can loose to.

[SEC_MAN]

Thanks, Is it possible for me to buy and sell it on the same day and still qualify for the dividends payable.

[Nessy]

SEC MAN the dividend is R0.065 per share... not R6.50.

[SEC_MAN]

Correct thanks .65c.Thanks guys

[Rams]

SEC MAN, the dividend is 6.50 ZARc .That is 6.5 cents. But why are you trading CFD. Have you traded non-leveraged shares before.

[SEC_MAN]

Tell me Ram, If i buy and sell the shares on the same day(LDT) will i still qualify for the dividends?

[Rams]

No. Must hold till close to get the dividends on shares or CFD. With CFD, you will get the dividend if you sell on day following LDT. Dividend is tax free but you can claim the loss( because share price will decrease by amount of the dividend) on the CFD from tax(or net gains for the year). Hope this helps.

[#9]

Please note that you will not make money like this ! Only long term holders can profit from this...

[SEC_MAN]

Thanks very much guys, your input is greatly appreciated.

[Quakedog]

So then buy the cfd take the div, as FOS should still be up from this point by year end! Take the profit and close the position at 75 bucks!