$TRNX my take on Spinoff. Record Date = when the company takes note of who the dividend is scheduled to go to. (As mentioned here before, this is more of a back office administrative date for the company) Distribution date = when the dividend is passed out. Ex-Dividend Date = Nasdaq set date for day after distribution date. Owners need to be the shareholder on record to get distribution. (Likely means you need to buy at least 2 days prior to be the shareholder on record) You can buy after the record date but before ex-dividend date to still receive dividend. You are just getting the rights to the dividend from whoever is selling. (Important to note that unlike what they said the first go around... the float does not decrease when shares are sold between record date and ex-dividend date. They are just transferred.) The reason you want to buy earlier on is to buy cheap vs the likely increased price as it gets closer to the ex-dividend date. Open to feedback :)
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