Cash Dividend Payment Procedures
Declaration Date is the day the board announces the dividend
Date of Record is the day on which all persons whose names are recorded as stockholders will receive the dividend
Ex Dividend Date is the day on which the right to receive the dividend leaves the stock*
Payment Date is the day on which dividend checks will be mailed to all stockholders of record as on the date of record
* It is common for the price of a share of stock to decline by about the value of the declared dividend on the exdividend date
Declaration Ex-Dividend Date of Payment
- 1994, HarperCollins Publishers