Why are some dividend payout much later than the earnings date?

as in the title: some companies announce earnings and the exdividedn date is much later. Example: B&M announced their earnings last week, exdiv. will be the 20th of August and payout in September. What is the point in having such long timeframes? I can imagine people flocking to the stock to get the guaranteed dividend but that cannot be the only reason.

Usually the answer is β€œadmin”
Giving your Registrar sufficient notice is usually key. Old school investors might have Certificated holdings or whatever. Electronically held Nominees are not usually the issue.
Could also be β€œadmin” from the point of view that a lot of Securities Lending positions - especially for retail investors - are unwound before Ex to save complexities of manufactured dividends and being exposed to your counterparties taxation status that might differ from yours.
Regarding everyone flocking to the stock – not sure retail people always actively choose to sacrifice a capital gain liability for an income tax liability (ISAs, Pensions aside). In either case - makes no difference. Stock will fall by exactly the value of the dividend at the moment of market open on ex dividend date - then market forces will take over and move the stock in whatever position the supply/demand balance takes it.


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