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Updated 1mo ago.
Updated 1mo ago.
The date from which a stock trades "without the next dividend". To receive the dividend, you must own the share BEFORE this date (buy by the prior business day). On the ex-dividend date, the share price drops mechanically by the dividend amount — not a loss, just value moving from the share into cash.
A stock pays a dividend on March 15 with an ex-dividend date of March 1. To receive it, you must own the share before March 1. Buy on or after March 1 and the dividend goes to the seller.
This date decides who gets the dividend. On the morning of the ex-dividend date, the price typically drops by the dividend amount. So buying just before to "grab" the dividend gives no free gain.