Record Date

The ex-dividend date is an investment term involving the timing of payment of dividends on stocks of corporations, income trusts, and other financial holdings, both publicly and privately held. It coincides with the reinvestment date for shares held subject to a dividend reinvestment plan. The ex-date or ex-dividend date or ex-div day represents the date on or after which a security is traded without a previously declared dividend or distribution. The opening price on the ex-dividend date, in comparison to the previous closing price, can be expected to decrease by the amount of the dividend, although this change may be obscured by other influences on the stock's value.