Ex-dividend date vs record date vs payment date
Every dividend moves through four dates. Knowing the order helps you plan purchases and know when the money arrives.
1. Declaration date
The company's board announces the dividend: the amount per share, and the other three dates.
2. Ex-dividend date
The first day the shares trade without the dividend. Buy before this day to receive it. For US stocks this is normally the same day as the record date.
3. Record date
The day the company checks its list of shareholders to see who is owed the dividend.
4. Payment date
The day the dividend is actually paid into brokerage accounts. It is usually one to four weeks after the ex-dividend date.
How Dividend101 estimates payment dates
Many sources list the ex-dividend date before the company confirms the payment date. Where the payment date is not confirmed yet, Dividend101 estimates it from the gap that stock usually has between its ex-dividend and payment dates, and labels it as an estimate. Confirmed dates from the company always take priority.
- Declaration: the announcement.
- Ex-dividend: the cut-off for buying.
- Record: who is on the list.
- Payment: when the money arrives.
Frequently asked questions
Which date should I watch as an investor?
The ex-dividend date. It tells you the last day you can buy and still receive the dividend (the business day before it).
When is a dividend paid after the ex-dividend date?
Usually between one and four weeks later. The exact payment date is set by the company.
Keep reading
General education only, not investment, tax or legal advice. Rules can differ by country and security.