A trade type used on an buy or sell order. It tells the broker not to decrease the limit price on buy-limit and sell-stop orders on the record date of a cash dividend.
Investopedia Says:
When a stock goes ex-dividend the price is usually reduced by the amount of the dividend.
Related Links:
Find out the various ways in which a broker can fill an order, which can affect costs. Understanding Order Execution
Taking control of your portfolio means knowing when to use particular orders and if they pose added costs. The Basics Of Order Entry
Discover the issues that complicate these payouts for investors. Dividend Facts You May Not Know
