The Ex-Dividend Date

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What is the ex-dividend date and how does it effect me? This is one of the more common questions we receive here at Canada Stock.

If you are a dividend investor, this can be a very important date to mark on your calendar. The ex-dividend date is the last day you must own a particular stock, ETF, or other exchange traded dividend issuing instrument in order to receive an upcoming dividend.

When a company announces a dividend, they generally announce the following information.

When do you get your dividend?

The night before the day of the ex-dividend date after the stock markets close is the time when the stock price is adjusted to reflect the dividend payout.

The next day is the ex-dividend date. If you own shares of the company on this day, you will receive the dividend. Even if you sell them the next day. The Record date is the date in which you will receive the dividend. Either as cash at your broker, stock or whatever the issue is. Geneally, the record date is 2 business days (days the non-weekend, non-holidays) after the ex-dividend date.