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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

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  • 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
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    @D Stanley - Thx, got it. I now see that you clearly explained this in your answer below. – Bob Baerker Nov 5 at 16:25
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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.

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

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