No, I'll provide an example. On Mar1st Company A paid their quarterly dividend and I received $xx.xx into my account. I participate in a dividend reinvestment program. Also on Mar 1st, my account was debited for $xx.xx and yy shares of Company A appeared in my account. In order for those shares to be available simultaneously with the cash dividend, the dividend reinvestment program executed trade(s) on February 27th for the total needed for all program participant in order for the trade to settle on Mar1st and be placed in participant's account on Mar 1st. So the question is when did I acquire the shares, on Feb 27th when the program executed bulk trade(s) or on Mar 1st when I received them in my account.
