I am a newcomer to stock trading so please excuse the lack of technical knowledge. I primarily invest with Robinhood.

I bought some Symantec which recently got bought out by Broadcom. Since then the stock name has changed to Norton LifeLock and the stock prices are about the same. I read an older report from August that said that Symantec will pay a dividend of $12 per share in q4 of 2020.

Should I sell the Norton stock now in case it goes down again? How does it affect my dividend if I sell now?

closed as primarily opinion-based by Pete B., Chris W. Rea, Rupert Morrish, JTP - Apologise to Monica Nov 6 at 3:24

Many good questions generate some degree of opinion based on expert experience, but answers to this question will tend to be almost entirely based on opinions, rather than facts, references, or specific expertise. If this question can be reworded to fit the rules in the help center, please edit the question.

  • Did you mean a dividend of $12 per share or 12 cents per share? Regarding the dividend, read this: – Bob Baerker Nov 5 at 16:03
  • @BobBaerker It's a $12 per share special dividend to return the proceeds of a spin-off to shareholders. – D Stanley Nov 5 at 16:13
  • 1
    @D Stanley - Thx, got it. I now see that you clearly explained this in your answer below. – Bob Baerker Nov 5 at 16:25

Well your facts are a bit off. Symantec is not getting bought out - it is selling it's Enterprise Security business (and its name) to Broadcom and focusing on Norton products. The proceeds of that sale will be distributed to shareholders in a special dividend.

How does it affect my dividend if I sell now?

You won't get it. But it shouldn't matter - the stock will drop by $12 when it pays the dividend, so you can either sell a $24 stock now or wait and have a ~$12 stock (if the price doesn't change) and $12 in cash. Between now and then, it's anybody's guess whether the stock will go up or down, but the dividend shouldn't factor into your decision.

  • 1
    The dividend might matter for tax purposes? – Michael Nov 5 at 16:47

Not the answer you're looking for? Browse other questions tagged or ask your own question.