Record Date and Ex Date

[Chloe]

I am aware that, usually, an ETF's ex-Dividend Date is the day before its Record Date so, for instance, if you buy an ETF the day before its ex-div date, the trade will settle on its record date and you receive the dividend.
However, in the cases of a whole load of UBS ETFs, e.g. UKSR, the record date is the day before the ex-dividend date. That must mean that if you buy the ETF the day before the ex-dividend date, i.e. on the record date, you pay the 'with dividend' price but are not the true owner until after the record date and, therefore, not entitled to the dividend. I can't believe this can be true, but would be grateful for somebody clearing up my confusion.
-Chloe

[Alaric]

I can't believe this can be true, but would be grateful for somebody clearing up my confusion.

The London Stock Exchange has long had mechanisms for reuniting buyers and sellers with their correct dividends when dealing near ex-dividend dates. At one time settlement dates could be ten days into the future.
.

[EthicsGradient]

Are you getting the ex-dividend date and the record date from the same source? And is it reliable?

[GoSeigen]

I can't believe this can be true, but would be grateful for somebody clearing up my confusion.

The London Stock Exchange has long had mechanisms for reuniting buyers and sellers with their correct dividends when dealing near ex-dividend dates. At one time settlement dates could be ten days into the future.
.

What are they?

GS

[EthicsGradient]

Could it be something to do with the SIX Swiss Exchange? I can find, for instance, iShares Swiss Dividend ETF, traded on SIX, with its latest 2 dividends (declared 'ad-hoc', which I haven't seen before) in May and June, having the ex-date 1 business day after the record date, but from April and before, the ex-date 1 business day before the record date.

https://www.ishares.com/ch/individual/e ... -ch-fund#/

Has that exchange just switched to immediate settlement or something?

Hmm, maybe not (not a sudden change, anyway) - here's UBS announcing record and ex-div dates last year, and record is 30 July, ex-div 2 Aug:

https://www.investegate.co.uk/ubs-etfs/ ... 00081066G/

Do they just have a habit of listing the ex-div date for when it settles, not when the trade is made?

[Chloe]

Hi,
I was / am referring to LSE traded ETFs and should perhaps have said UKSR.L.
I used Investegate's records of UKSR dividend announcements.
I also found a statement of the next announcement date (25/7/22) on the web, but have lost it. Won't take long to know the truth of that.
These are my understandings:
LSE has settlement date 2 trading days after the trade is entered into.
You become the owner of record on the settlement date.
If you buy something before its ex-dividend date, you are entitled to the dividend. This applies even if you buy it the day before it goes ex-div (so your trade won't have settled, and you won't be the owner of record, till the day after going ex-div).
The vast majority (?) of dividend announcements specify the record date as being the trading day after the ex-div date.

Maybe LSE updates its record of share ownership the same day as the trade is made.
???