What is an ex-dividend date?
The ex-dividend date is the cutoff for receiving the next dividend. Ownership generally needs to be established before the ex-date; shares purchased on or after it do not receive that payment.
Why ex-dividend dates matter
For Dividend Kings, Aristocrats, and Contenders, ex-dates provide timing context for upcoming distributions. Most U.S. dividend stocks pay quarterly, so ex-dates alone do not establish a monthly payment schedule.
- Payment date: when cash is deposited (often 2–4 weeks after the ex-date).
- Record date: shareholder-of-record check, usually one business day after the ex-date.
- Declaration date: when the board announces amount and schedule.