Declaration date - this is the date that the company announces that a dividend will be paid and the details of the dividend (e.g.: the value of the dividend, usually in cents per share, and when it will be paid)

Ex-dividend date - the ex-div date, which is 2 days before the record date, is the most important date for dividend investors to be aware of. If you purchase shares on or after the ex-div date, you will not be paid that quarter’s dividend (although you will be entitled to future dividends, assuming you continue to hold the shares). Investors who purchase shares before the ex-div date will be paid that quarter’s dividend. Important to remember - you must already be holding the stock, or have purchased the stock, one day before the ex-div date to be eligible to receive the dividend.

Record date - the record date is the date on which a company's management looks at the shareholder records to see who is eligible to receive the company’s future dividend payment. As it is 2 days after the ex-div date, this would represent all the shareholders who will be receiving the dividend. Why is the record date 2 days after the ex-div date? Because it takes 3 days for a stock to settle (trade date plus 2 days), so the record date will be the full list of all eligible shareholders.

Payment date - the payment date is the date on which corporate cash is actually paid out as a dividend. Remember, because you have a Gotrade account, the payment is first sent to the clearing broker who will then do the necessary processing to get the payment into your account. Please note this may take 3 to 5 working days, so do check your account after the payment date and not on (or before) the payment date.

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