Template:Dividend timing

The timing of dividends

There are four crucial dates: in order, these are the “declaration date”, the ex-dividend date, the record date, and the Dividend Payment Date.

• Declaration date: The declaration date (also called an announcement date is the date on which the issuer announces there will be a dividend payment. This comes first. This announcement will include the size of the dividend (the Dividend Amount), the ex-dividend date (being the last date on which, if you buy the stock, you get the dividend), and the Dividend Payment Date — the date on which a dividend is actually paid. Timings are likely to be:

• Declaration date = D
• Ex-dividend date = D+9
• Record date = D+10
• Dividend payment date = D+30

• Ex-dividend date actually keys off the record date, and is set based on stock exchange rules — usually a business day before the record date. If you buy a stock on or after its ex-dividend date, you won’t get the dividend because the trade won’t settle until after the ...
• Record date, being the date you actually have to be on the register of shareholders to qualify for the dividend, which will be paid to whoever was the holder of record on the record date, whether or not they have subsequently sold the share, on the
• Dividend payment date which may be as much as a month or more after the original dividend declaration date.