If I were to purchase a stock or ETF that pays quarterly distributions and I purchased these shares, say, five weeks before the quarterly pay out, would I get some sort of prorated distribution? How does that work?
There is no pro-rating ... whoever owns the units on the record date gets the entire dividend/distribution ... note that you must purchase prior to the ex-div date, in order to be the owner of record, on the record date. The pay date could be anywhere from a few days to a few weeks after the record date.
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