Important dividend dates (DERP)
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Ex-Dividend Date-
Ex-Dividend On this day, the security begins to trade without the value of the dividend in the stock price. is 1 business day before the record date (R-1). This date is set by FINRA.
Record Date
The date on which an investor must own the stock to receive the dividend. This date is set by the board of directors.
Declaration Date
The date on which the board of directors announces the company will pay a dividend to its shareholders
Payable Date-
The date on which the company pays the dividend to the shareholders of record. This date is set by the board of directors and usually is a week or more after the record date, so the company has enough time to ensure all shareholders entitled to receive payment are accurately paid.