 | | Without the dividend. The buyer of a stock selling ex-dividend does not receive the recently declared dividend. Every dividend is payable on a fixed date to all shareholders recorded on the books of the company as of a previous date of record. For example, a dividend may be declared as payable to holders of record on the books of the company on a given Friday. Since three business days are allowed for delivery of stock in a "regular way" transaction on the New York Stock Exchange, the Exchange would declare the stock "ex-dividend" as of the opening of the market on the preceding Wednesday. That means anyone who bought it on and after Wednesday would not be entitled to that dividend. When stocks go ex-dividend, the stock tables include the symbol "x" following the name. |
