I just noticed that my VCN (Vanguard Canada AllCap index ETF) announced an ex-Dividend date of Monday, March 14, with unit holders on March 17 getting a dividend.
This is a few days sooner than I was expecting, thus just rushed the planned $5k into my account, in hopes to buy before the ex-dividend date. This will mean buying on Monday if the funds show up in my account on time. The question may be moot if the funds don't show up till Tuesday.
Now I'm wondering - am I better off buying shortly after the dividend date instead? Will the price drop on March 15 or 18 because the dividend date is passed?
I know long term this won't matter at all, but I'm more curious about how these thing work. Thanks!