If you own the stock on the record date, then you are entitled to the dividend or the additional shares from the split. The record date concept is important if you buy or sell shares near the record date, because it makes settlement confusing. You would tender your 100 shares and then, because you still held but did not actually own 100 shares on the record date, you would get another 100 shares issued to you. These are not yours to keep, of course, since you were paid the full pre-split price for your 100 shares. When dividends are issued near the trade date, there is usually a discount or premium on the trade to compensate the party that will not receive the dividend.
Bond calls Most bonds have a feature that gives the issuer the option to call the bond at any time.
The company only pays the principal amount plus any interest that accrued by the call date. The company is not liable for payment of additional interest after the call date. This rule prevents bondholders from delaying cashing in the bonds so as to stay at the higher rate of interest as long as possible. However, the company is not required to notify bondholders of the call individually, but only to advertise with public notices in certain financial publications. The bonds are generally called the day after an interest payment, and investors are usually not aware that the bonds were called until the next interest payment is due.