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What are the different dividend dates?

The ex-dividend date is the date from which a security trades without entitlement to the next dividend. In other words, to be eligible for the next dividend payment, an investor must acquire a security BEFORE the ex-dividend date.

The dividend payable date is the date on which an investor will receive the dividend. The dividend will generally be visible in your brokerage account the day after payment.

This information can be found in the Dividends section of a security's listing.

Example: A stock has an ex-dividend date of February 1 and a payable date of February 15. The dividend amount is $1 per share. An investor must therefore acquire his shares no later than January 31 to receive the dividend on February 15.

Similarly, an investor who already owns a share and sells it on February 1 will still receive the dividend on February 15.

Explore the Understanding dividends section of our Learning Centre to learn more about things to know about dividends, such as dividend dates.

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