LDT vs. Record Date

[JohnnyCash]

Simon, I see there's about a weeks difference between the LDT and the Record Daten on average for divi's. What's the Record date used for? If the LDT is 6June2008 and it goes ex-div on Monday do u still need to hold until the Record Date to receive the Divi on Payout Date or Can u start selling from Monday if tomorrow's the LDT?

[SimonPB]

you have to own the share at close on LDT, then you get the div. When yu buy or sell is not important. Record date is a factor of T+5. When a share trades there is a 5 day period before actually transfer takes place.