What is the “ex-dividend” date for a dividend or distribution to shareholders?
The “ex-dividend” date is the date on which a security is traded without the right to receive a dividend or distribution that has been declared by the company. Ex-dividend dates are determined by Corporate Data Operations in accordance with NASDAQ Rule 11140. Under this rule, the date designated as the “ex-dividend” date is generally the second business day preceding the record date for dividends or distributions that represent less than 25% of the value of the underlying security. If the dividend represents 25% or more of the value of the subject security, the “ex-dividend date” is generally the first business day following the payable date.
