Another Shot at 1 Huge Dividend!

optionsXpress (OXPS) announced two weeks ago it will be paying a $4.50-per-share dividend on Dec. 27. After reaching a high of $21, the stock fell more than 10% in early trading yesterday after confusion over its ex-dividend date. That's the date when a stock begins trading without the right to the dividend. Normally, the ex-dividend date is two days before the record date. Since the dividend is so large, special rules apply. By Nasdaq's rules, when cash dividends (as opposed to dividends of shares) are 25% or greater, the ex-dividend date is the first business day following the payable date.... Read more