Dividend Ex Date Record
Dividend Ex Date Record | Definition
Date by which a shareholder must officially own shares in order to be entitled to a dividend or vote on company affairs. For example, a firm might declare a dividend on November 1, payable December 1 to holders of record as of November 15.
Once a trade is executed an investor becomes the "owner of record" on settlement, which currently takes five business days for securities and one business day for mutual funds. Stocks trade ex-dividend the fourth day before the record date, since the seller will still be the owner of record and is thus entitled to the dividend.
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