Settlement date beforehand transaction date?
I received a dividend in my brokerage depiction from a closed end fund I invested surrounded by. THe transaction date is Jan 23, but the settlement date was Jan 7. How can this be?
Answers: Settlement date is the date the money is to be transferred. Transaction date is the date the transaction is deem to occur. For instance you buy a bond next to the transaction date of July 15. All interest due is calculated to that date. Settlement might be July 16 when the bond is transferred to you and you transfer the money to the dealer.
With dividends there is a date when the owners as of that date receieve the dividend, call date of record, next a later settlement date when the funds are transferred.
Not sure what these date mean since it is unusual to enjoy a transaction date after settlement.
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Answers: Settlement date is the date the money is to be transferred. Transaction date is the date the transaction is deem to occur. For instance you buy a bond next to the transaction date of July 15. All interest due is calculated to that date. Settlement might be July 16 when the bond is transferred to you and you transfer the money to the dealer.
With dividends there is a date when the owners as of that date receieve the dividend, call date of record, next a later settlement date when the funds are transferred.
Not sure what these date mean since it is unusual to enjoy a transaction date after settlement.