I just recently bought shares in Lloyds banking group PLC. I'm quite new to this so I don't understand how the dividends work properly.
I hadn't purchased the shares for dividends, just hoping for long term appreciation of the price, though when I searched for dividend payments with the bank they list the coming and previous dividend payments. Though I am unsure what it means, or how to interpret it correctly to see if I will get a dividend.
- Description: Special 2016
- Dividend (per share): 0.50p
- Ex Dividend Date: 06/04/2017
- Record Date: 07/04/2017
- Payment Date: 16/05/2017
So I have purchased these shares a few days ago before the Ex dividend date. From what I understand this would mean I have purchased the shares in time, though I don't understand the description, does it mean I had to purchase the shares in 2016?
If anyone might be able to help it would be greatly appreciated.