diff --git "a/ab3b6175-9229-41bb-af60-180c6ead03e1.json" "b/ab3b6175-9229-41bb-af60-180c6ead03e1.json" new file mode 100644--- /dev/null +++ "b/ab3b6175-9229-41bb-af60-180c6ead03e1.json" @@ -0,0 +1,40 @@ +{ + "interaction_id": "ab3b6175-9229-41bb-af60-180c6ead03e1", + "search_results": [ + { + "page_name": "What Does Ex-Dividend Mean, and What Are the Key Dates?", + "page_url": "https://www.investopedia.com/terms/e/ex-dividend.asp", + "page_snippet": "Ex-dividend is a classification in stock trading that indicates when a declared dividend belongs to the seller rather than the buyer.The record date is the last date on which shareholders are eligible to receive a dividend or distribution. It's established by the company's board. more \u00b7 Payment Date for Dividends: Overview, Key Dates, and Examples \u00b7 The payment date is the date set by a company when it will issue payment on the stock's dividend. more \u00b7 Ex-Dividend Date: Definition, Key Dates, and Example \u00b7 The ex-date, or ex-dividend date, is the date on or after which a security is traded without a previously declared dividend or distribution. more The ex-date is just one of the important dates in dividend distribution. Declaration date: Also known as the announcement date, this is the date when a company's board of directors announces the dividend distribution. This is an important moment: any change in the expected dividend can cause the stock to rise or fall quickly as traders adjust their expectations. The ex-date, or ex-dividend date, is the date on or after which a security is traded without a previously declared dividend or distribution. more \u00b7 Dividend Arbitrage: What It Is, How It Works, and Example Record Date vs. Ex-Dividend Date: What's the Difference? ... The record date is the last date on which shareholders are eligible to receive a dividend or distribution. It's established by the company's board. more", + "page_result": "\n\t\t\t\t\n\n\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t \n \n \n\n\t\t\t\t\t\n\t\t\t\t\t\n\n\n\n\n\n\n\n\nWhat Does Ex-Dividend Mean, and What Are the Key Dates?\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\t\t\t\t\t\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n\t\t\t\t\t\n\t\t\t\t\t\t\t\n\n\t\t\n\n\n\n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n\n\n\n\n
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\n\nTable of Contents\n
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\n\nTable of Contents\n\n\n\n
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    \nUnderstanding Ex-Dividend\n
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    \nExample\n
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    \nOther Considerations\n
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    \nKey Dividend-Related Dates\n
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    \nFAQs\n
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    \nThe Bottom Line\n
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\nWhat Does Ex-Dividend Mean, and What Are the Key Dates?

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\nBy\n
Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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Adam Hayes, Ph.D., CFA, is a financial writer with 15+ years Wall Street experience as a derivatives trader. Besides his extensive derivative trading expertise, Adam is an expert in economics and behavioral finance. Adam received his master's in economics from The New School for Social Research and his Ph.D. from the University of Wisconsin-Madison in sociology. He is a CFA charterholder as well as holding FINRA Series 7, 55 & 63 licenses. He currently researches and teaches economic sociology and the social studies of finance at the Hebrew University in Jerusalem.

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Updated November 21, 2023
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\nEx-dividend refers to the period after which a stock is traded without a right to its next dividend payment. The ex-dividend date or "ex-date" is the day the stock starts trading without the value of its next dividend payment. Typically, this date is one business day before the record date, meaning that an investor who buys the stock on its ex-dividend date or later will not be eligible to receive the declared dividend. Rather, the dividend payment is made to whoever owned the stock the day before the ex-dividend date.\n

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\nKey Takeaways

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  • Ex-dividend is when a company's dividend allocations have been specified.
  • The ex-dividend date of a stock is the day on which the stock begins trading without the subsequent dividend value.
  • Investors who purchase stock before the ex-dividend date are entitled to the next dividend payment while those who purchase stock on or after the ex-dividend date are not.
  • The ex-dividend date occurs before the record date because a stock trade is settled "T+1," meaning that the record of that transaction isn't settled for one business day.
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Understanding Ex-Dividend

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\nA stock trades ex-dividend on and after the ex-dividend date (ex-date). If you buy a stock on its ex-date or after, you will not receive the next dividend payment. Some broker platforms might use an XD suffix to the stock's ticker to indicate it is trading ex-dividend. Since buyers aren't entitled to the next dividend payment on the ex-date, the stock will be priced lower by the amount of the dividend by the exchange.\n

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\nWhen a company decides to declare a dividend, its board of directors establishes a\u00a0record date. This is the date when you must be on the company's record as a shareholder to receive the dividend payment. Once the record date is set, the ex-dividend date is also put in place according to the rules of the stock\u00a0exchange\u00a0on which the stock is traded. This usually means that the ex-date is one business day before the record date. For example, if a company declares a dividend on March 3 with a record date of Monday, April 11, the ex-date would be Friday, April 8, because it\u2019s one business day before the record date.\n

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\nThe ex-date is before the record date because of the way stock trades are settled. When a trade happens, the record of that transaction isn't settled for one business day. This is known as the \"T+1\" settlement. Thus, if you owned a stock on Thursday, April 7, but sold it Friday, April 8, you would still be the shareholder of record on Monday, April 11, because the trade hasn't fully settled.\n

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\nHowever, if you sold the stock on Wednesday, April 6, then the trade would be settled on Thursday, April 7, which is before the ex-dividend date of Friday, April 8, and the new buyer would be entitled to the dividend.\n

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\nIf your investing strategy is focused on income, knowing when the ex-date occurs helps you plan your trade entries. However, because the price of the stock drops by about the same value as the dividend, buying a stock right before the ex-date shouldn't result in any profits. The same applies if you buy on or after the ex-date and get a "discount" for the dividend you won\u2019t receive.\n

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Example of Ex-Dividend

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\nSuppose Company XYZ pays a $0.53 per share dividend June 2, 2023. The payment goes to shareholders who had purchased stock before the ex-date of May 5, 2023.\n

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\nThe company previously declared the dividend Feb. 19, 2023, and the record date was set as May 6, 2023. Only\u00a0shareholders who had purchased the stock before the ex-date, therefore, are entitled to the cash payment.\n

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Other Considerations

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\nOn average, a stock often will drop slightly less than the dividend amount. Given that stock prices move on a daily basis, the fluctuation caused by small dividends may be difficult to detect. The effect on stocks from larger dividend payments can be easier to observe.\n

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\nIf a company issues a dividend in stock instead of cash or the cash dividend is 25% or more of the value of the stock, the ex-date rules slightly differ. With a stock or large cash dividend, the ex-date is set on the first business day after the dividend is paid.\n

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Key Dividend-Related Dates

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\nThe ex-date is just one of the important dates in dividend distribution.\n

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  • Declaration date: Also known as the\u00a0announcement date, this is the date when a company's board of directors announces the dividend distribution. This is an important moment: any change in the expected dividend can cause the stock to rise or fall quickly as traders adjust their expectations. The ex-date and record date will occur after the declaration date.
  • Record date: This is when the company reviews who the shareholders of record are. The record date is one business day after the ex-date but shouldn't be a major factor in your decision of when to buy a stock.
  • Payment date: This is when dividend checks are sent or credited to investor accounts. Since the payment date is known in advance, the event shouldn't have any impact on the stock price.
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Who Sets the Ex-Date?

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A record date is set first. Then, the ex-dividend date is set based on the rules of the stock exchange on which the issue is traded.

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Why Does the Stock Price Fall on the Ex-Date?

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The price of a stock tends to fall by the amount of the dividend on its ex-dividend date, reflecting that its assets will soon be dropping by the amount of the dividend.

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Will You Get the Dividend Payment if You Buy on the Ex-Date?

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No. If you buy a stock on the ex-date, you are not be entitled to the dividend. Instead, the seller of the stock is. When a company declares a dividend, it also sets a record date when a market participant must be a shareholder to receive the dividend. Once the record date is set, the ex-date is set, according to stock exchange rules. Typically, that's one business day before the record date. An investor who purchases the stock on its ex-dividend date or later will not get the dividend.

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The Bottom Line

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\nThe ex-dividend date or ex-date is one of four steps a company goes through when paying dividends. The declaration date is when a company states that it plans to issue a dividend in the future. The record date is when the company determines the shareholders entitled to a dividend. The ex-date is usually the day before the record date and determines which shareholders are entitled to a payment. The payment date is the day when dividend payments are made. You must be a shareholder before the ex-date in order to collect a stock dividend. If you buy shares on or after the ex-dividend date, you are not entitled to that payment. Instead, the seller of the stock receives it.\n

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\nCorrection\u2014Nov. 28, 2023: This article has been corrected to state the date when a new buyer would be entitled to a dividend.\n

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\nArticle Sources
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\nInvestopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our\neditorial policy.\n
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  1. Securities and Exchange Commission. "Ex-Dividend Dates: When Are You Entitled to Stock and Cash Dividends."

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  2. Investor.gov. "Ex-Dividend Dates: When Are You Entitled to Stock and Cash Dividends."

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\nRelated Terms
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\nWhat Is the Record Date and Why Is It Important? Plus an Example\n
\nThe record date is the last date on which shareholders are eligible to receive a dividend or distribution. It's established by the company's board.
\nmore\n
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\nPayment Date for Dividends: Overview, Key Dates, and Examples\n
\nThe payment date is the date set by a company when it will issue payment on the stock's dividend.
\nmore\n
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\nEx-Dividend Date: Definition, Key Dates, and Example\n
\nThe ex-date, or ex-dividend date, is the date on or after which a security is traded without a previously declared dividend or distribution.
\nmore\n
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\nDividend Arbitrage: What It Is, How It Works, and Example\n
\nDividend arbitrage is an options trading strategy that involves purchasing puts and stock before the ex-dividend date and then exercising the put.
\nmore\n
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\nCum Dividend: Definition, Meaning, How It Works, and Example\n
\nCum dividend is when a buyer of a security will receive a dividend that a company has declared but has not yet paid.
\nmore\n
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\nSpillover Dividend: Meaning, Process, Example\n
\nA spillover dividend is one in which the year that the shareholder receives payment and the year that the payment is taxable are different.
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\t\t\n\n\t\t\n", + "page_last_modified": "" + }, + { + "page_name": "Ex-Dividend Dates: When Are You Entitled to Stock and Cash Dividends ...", + "page_url": "https://www.investor.gov/introduction-investing/investing-basics/glossary/ex-dividend-dates-when-are-you-entitled-stock-and", + "page_snippet": "To determine whether you should get a dividend, you need to look at two important dates. They are the "record date" or "date of record" and the "ex-dividend date" or "ex-date." When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder ...To determine whether you should get a dividend, you need to look at two important dates. They are the \"record date\" or \"date of record\" and the \"ex-dividend date\" or \"ex-date.\" When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. Companies also use this date to determine who is sent proxy statements, financial reports, and other information. Once the company sets the record date, the ex-dividend date is set based on stock exchange rules. The ex-dividend date for stocks is usually set one business day before the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. The ex-dividend date for stocks is usually set one business day before the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you get the dividend.", + "page_result": "\n\n\n\n\n\t\n\n\n\n\n\n\n\n\n\n\t\t\n\t\t\n\t\tEx-Dividend Dates: When Are You Entitled to Stock and Cash Dividends | Investor.gov\n\t\t\n\t\t\n\n\n\t\t\n\t\n\t\n\t
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Ex-Dividend Dates: When Are You Entitled to Stock and Cash Dividends

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To determine whether you should get a dividend, you need to look at two important dates. They are the \"record date\" or \"date of record\" and the \"ex-dividend date\" or \"ex-date.\"

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When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. Companies also use this date to determine who is sent proxy statements, financial reports, and other information.

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Once the company sets the record date, the ex-dividend date is set based on stock exchange rules. The ex-dividend date for stocks is usually set one business day before\u00a0the record date. If you purchase a stock on its ex-dividend date or after, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you get the dividend.

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Here is an example:

\n\n\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t
\n\t\t\t

Declaration Date

\n\t\t\t		\n\t\t\t

Ex-Dividend Date

\n\t\t\t		\n\t\t\t

Record Date

\n\t\t\t		\n\t\t\t

Payable Date

\n\t\t\t
\n\t\t\t

Friday, 9/8/2017

\n\t\t\t		\n\t\t\t

Friday, 9/15/2017

\n\t\t\t		\n\t\t\t

Monday, 9/18/2017

\n\t\t\t		\n\t\t\t

Tuesday, 10/3/2017

\n\t\t\t

\u00a0

\n\n

On September 8, 2017, Company XYZ declares a dividend payable on October 3, 2017 to its shareholders. XYZ also announces that shareholders of record on the company's books on or before September 18, 2017 are entitled to the dividend. The stock would then go ex-dividend one business day before the record date.

\n\n

In this example, the record date falls on a Monday. Excluding weekends and holidays, the ex-dividend is set one business day before the record date or the opening of the market\u2014in this case on the preceding Friday. This means anyone who bought the stock on Friday or after would not get the dividend. At the same time, those who purchase before the ex-dividend date on Friday will receive the dividend.

\n\n

With a significant dividend, the price of a stock may fall by that amount on the ex-dividend date.

\n\n

If the dividend is 25% or more of the stock value, special rules apply to the determination of the ex-dividend date.\u00a0 In these cases, the ex-dividend date will be deferred until one business day after the dividend is paid.\u00a0 In the above example, the ex-dividend date for a stock that\u2019s paying a dividend equal to 25% or more of its value, is October 4, 2017.

\n\n

Sometimes a company pays a dividend in the form of stock rather than cash. The stock dividend may be additional shares in the company or in a subsidiary being spun off. The procedures for stock dividends may be different from cash dividends. The ex-dividend date is set the first business day after the stock dividend is paid (and is also after the record date).

\n\n

If you sell your stock before the ex-dividend date, you also are selling away your right to the stock dividend. Your sale includes an obligation to deliver any shares acquired as a result of the dividend to the buyer of your shares, since the seller will receive an I.O.U. or \"due bill\" from his or her broker for the additional shares. Thus, it is important to remember that the day you can sell your shares without being obligated to deliver the additional shares is\u00a0not\u00a0the first business day after the record date, but usually is the first business day after the stock dividend is paid.

\n\n

\u00a0

\n\n

If you have questions about specific dividends, you should consult with your financial advisor.

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  • \n
    \nKey Dividend Dates\n
    \n
    • \n
  • \n
    \nHow Dividends Are Paid\n
    \n
    • \n
  • \n
    \nWhen Dividends Are Paid\n
    \n
    • \n
  • \n
    \nDividend Reinvestment Plan (DRIP)\n
    \n
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    \nTax Implications\n
    \n
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    \nFAQs\n
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    \nThe Bottom Line\n
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  • \nStocks\n\n\n\n
    • \n
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    • \n
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\nHow and When Are Stock Dividends Paid Out?

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\nIf a company enjoys a profit and decides to pay a dividend to common shareholders, then it declares the dividend, the amount, and the date when it will be paid out to the shareholders.\n

\n
\n

\nUsually, dividend amounts and related dates are determined on a quarterly basis, after a company finalizes its income statement and the board of directors meets to review the company's financials.\n

\n
\n

\nSome companies with solid histories of paying dividends have established quarterly dividend payment dates. For example, IBM usually pays its dividends on the 10th of March, June, September, and December.\n

\n
\n
\n
\n

\nKey Takeaways

\n
\n
  • A dividend is a payment of some of a company's earnings to a class of its shareholders.
  • The payment date and amount are determined on a quarterly basis once the board of directors reviews a company's financials.
  • You must buy shares before the ex-date to receive the declared dividend.
  • The record date is the day on which you must be on the company\u2019s books as a shareholder to receive the declared dividend.
  • The payment date is the day the company pays the declared dividend to shareholders who own the stock before the ex-date.
\n
\n
\n

Key Dividend Dates

\n

\nIf a dividend is declared, all qualified shareholders of the company are notified via a press release. The information is usually reported through\u00a0major stock quoting services for easy reference. The key dividend dates that an investor should be aware of are:\n

\n
\n
    \n
  • The declaration date: The date that the dividend is declared and the dividend amount, ex-date, record date, and payment date are set.
    • \n
  • The ex-dividend date: The date (aka ex-date) before which an investor must have purchased the stock to receive the upcoming dividend. On this day, the stock begins trading ex-dividend (or, without the dividend).
    • \n
  • The record date: The date that determines all shareholders of record who are entitled to the dividend payment. This date usually occurs two days after the ex-date.
    • \n
  • The payment date: This is the day dividend payments are issued to shareholders and is usually about one month after the record date.
    • \n
\n
\n

How Dividends Are Paid

\n

\nA dividend is the distribution of some of a company's earnings as cash to a class of its shareholders. Dividends typically are credited to a brokerage account or paid in the form of a dividend check. The dividend\u00a0check is mailed to stockholders but can be direct-deposited to a shareholder's account of choice, if preferred.\n

\n
\n

\nThe alternative to cash dividends is additional shares of stock. This is known as dividend reinvestment. Dividend reinvestment plans (DRIPs) are commonly offered by individual companies and mutual funds.\n

\n
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\n
\n

\n
\n

Once a dividend is announced on the declaration date, the company has a legal responsibility to pay it.

\n
\n
\n

When Dividends Are Paid

\n

\nOn the payment date, the company deposits the funds for disbursement to shareholders with the Depository Trust Company (DTC). Cash payments are then disbursed by the DTC to brokerage firms around the world where shareholders have accounts that hold the company's shares. The recipient firms appropriately apply cash dividends to client accounts, or process reinvestment transactions, as per a client's instructions.\n

\n
\n

\nMailed checks should be received within a few days of the payment date.\n

\n
\n

Dividend Reinvestment Plan (DRIP)

\n

\nA dividend reinvestment plan (DRIP) offers a number of advantages to investors. If the investor prefers to build their current equity holdings using funds from dividend payments, automatic dividend reinvestment simplifies this process (as compared to receiving the dividend payment in cash and then using the cash to purchase additional shares).\n

\n
\n

\nCompany-operated DRIPs are usually commission-free, since they bypass a broker. This feature is particularly appealing to small investors since commission fees are proportionately larger for smaller purchases of stock.\n

\n
\n

\nAnother potential benefit of DRIPs is that some companies offer stockholders the option to purchase additional shares in cash at a discount. With a discount from 1% to 10%, plus the added benefit of not paying commission fees, investors can acquire additional stock holdings at an advantageous cost (compared to buying shares in cash through a brokerage firm).\n

\n
\n

Tax Implications of Dividends

\n

\nDividends are always considered taxable income by the Internal Revenue Service (IRS), regardless of the form in which they are paid.\n

\n
\n

\nSpecific tax implications for the dividend payments vary depending on the type of dividend declared, account type in which the shareholder owns the shares, and how long the shareholder has owned the shares. Dividend payments are summarized for each tax year on Form 1099-DIV.\n

\n
\n
\n\n

What Is a Dividend?

\n

A dividend is a payment that a company chooses to make to shareholders when the company has a profit. Companies can either reinvest their earnings in themselves or share some (or all) with its investors. Dividends represent income for investors and are the primary goal for many.

\n
\n
\n
\n\n

Are Dividends a Return on Investment?

\n

Yes, dividends are considered a part of what's referred to as total return, which is income produced by an investment (e.g., dividends, interest) plus the appreciation of the investment's price.

\n
\n
\n
\n\n

Why Is the Ex-Dividend Date Important to Know?

\n

Investors who wish to buy shares in companies in order to receive a recently announced dividend payment have until the day before the ex-dividend date (or ex-date) to make their purchase. If they buy on or after the ex-date, they won't be on the company's records as a shareholder in time to receive the upcoming dividend.

\n
\n
\n

The Bottom Line

\n

\nDividends are a way for companies to distribute profits to their shareholders, but not all companies pay dividends. Some companies may decide to retain their earnings to re-invest for growth opportunities instead.\n

\n
\n

\nIf dividends are to be paid, a company will declare the amount of the dividend and all relevant dates. Then, all holders of the stock (by the ex-date) will be paid accordingly on the upcoming payment date. Investors who receive dividends can choose to take them as cash or as additional shares.\n

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\nArticle Sources
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\nInvestopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our\neditorial policy.\n
\n
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    \n

  1. IBM Investor Relations. "When are IBM dividends typically paid?"

    2. \n

  2. Internal Revenue Services. "Topic No. 404, Dividends."

    3. \n
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\nRelated Terms
\n
\n
\nPayment Date for Dividends: Overview, Key Dates, and Examples\n
\nThe payment date is the date set by a company when it will issue payment on the stock's dividend.
\nmore\n
\n
\n
\n
\nWhat Does Ex-Dividend Mean, and What Are the Key Dates?\n
\nEx-dividend is a classification in stock trading that indicates when a declared dividend belongs to the seller rather than the buyer.
\nmore\n
\n
\n
\n
\nEx-Dividend Date: Definition, Key Dates, and Example\n
\nThe ex-date, or ex-dividend date, is the date on or after which a security is traded without a previously declared dividend or distribution.
\nmore\n
\n
\n
\n
\nDividend Arbitrage: What It Is, How It Works, and Example\n
\nDividend arbitrage is an options trading strategy that involves purchasing puts and stock before the ex-dividend date and then exercising the put.
\nmore\n
\n
\n
\n
\nWhat Is the Record Date and Why Is It Important? Plus an Example\n
\nThe record date is the last date on which shareholders are eligible to receive a dividend or distribution. It's established by the company's board.
\nmore\n
\n
\n
\n
\nDividends: Definition in Stocks and How Payments Work\n
\nA dividend is a distribution of earnings, often quarterly, by a company to its shareholders in the form of cash or stock reinvestment.
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\t\t\n\n\t\t\n", + "page_last_modified": "" + }, + { + "page_name": "Microsoft Investor Relations - Dividends and Stock History", + "page_url": "https://www.microsoft.com/en-us/Investor/dividends-and-stock-history.aspx", + "page_snippet": "Information regarding Microsoft stock and stock splits that have occurred.Computershare, Microsoft's transfer agent, administers a direct stock purchase plan and a dividend reinvestment plan for the company. To find out more about these programs you may contact Computershare directly at (800) 285-7772, Option 1, between the hours of 8 A.M. and 8 P.M. Eastern Time, Monday through Friday, and Saturday 9 A.M. and 5 P.M. Eastern Time. Microsoft pays a quarterly dividend of $0.75 per share. Read the press release Use this Investment Calculator to find the current value and return of Microsoft stock purchased at any prior date. Dividends and stock splits are included in the calculation. { \"@odata.context\": \"https://api.msn.com/finance/$metadata#Quotes\", \"valueM\": [{\"price\":400.1,\"priceChange\":-2.7,\"priceDayHigh\":400.48,\"priceDayLow\":397.22,\"timeLastTraded\":\"2024-02-21T16:01:55.325Z\",\"priceDayOpen\":400.14,\"pricePreviousClose\":402.79,\"datePreviousClose\":\"2024-02-20T00:00:00Z\",\"priceAsk\":400.12,\"askSize\":119.0,\"priceBid\":400.09,\"bidSize\":50.0,\"accumulatedVolume\":5458847.0,\"averageVolume\":25014384.0,\"peRatio\":36.4283,\"priceChangePercent\":-0.6691,\"price52wHigh\":420.82,\"price52wLow\":245.61,\"pricePreMarket\":400.12,\"priceChangePreMarket\":-2.67,\"priceChangePreMarketPercent\":-0.6629,\"yieldPercent\":0.7448,\"priceChange1Week\":-9.4,\"priceChange1Month\":1.43,\"priceChange3Month\":27.03,\"priceChange6Month\":78.22,\"priceChangeYTD\":24.06,\"priceChange1Year\":147.43,\"return1Week\":-2.2943,\"return1Month\":0.3574,\"return3Month\":7.2439,\"return6Month\":24.2994,\"returnYTD\":6.3969,\"return1Year\":58.3469,\"sourceExchangeCode\":\"XNASB\",\"sourceExchangeName\":\"Nasdaq Last Sale\",\"icon\":\"https://bing.com/th?id=", + "page_result": "Microsoft Investor Relations - Dividends and Stock History
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Investor Relations
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    \r\n

    Dividends and Stock History

    Dividend Information\u00a0

    • \r\n Computershare, Microsoft's transfer agent, administers a direct stock purchase plan and a dividend reinvestment plan\r\n for the company. To find out more about these programs you may contact Computershare directly at (800) 285-7772, Option\r\n 1, between the hours of 8 A.M. and 8 P.M. Eastern Time, Monday through Friday, and Saturday 9 A.M. and 5 P.M. Eastern\r\n Time. Alternatively, you can view the program online by going to the\r\n Computershare's website.\r\n

    • \r\n Microsoft pays a quarterly dividend of $0.75 per share.\r\n Read the press release

    • \r\n Click\r\n here to download the dividends file\r\n

    Quarterly Dividend

    Annual Dividend

    Dividend PeriodAmountAnnouncement DateEx-Dividend DateRecord DatePayable Date
    2003$0.08Jan 16, 2003Feb 19, 2003Feb 21, 2003Mar 7, 2003
    2004$0.16Sep 12, 2003Oct 15, 2003Oct 17, 2003Nov 7, 2003

    Special Dividend

    Dividend PeriodAmountAnnouncement DateEx-Dividend DateRecord DatePayable Date
    Special$3.00Jul 20, 2004Nov 15, 2004Nov 17, 2004Dec 2, 2004

    Stock Information

    Microsoft Stock Split Information

    Lookup Microsoft closing stock prices by date. Prices display split-adjusted cost basis per share on that date.\r\n

    Microsoft 2-for-1 Common Stock Split

    Answers to Frequently Asked Questions about the ninth common stock split effective February 18, 2003.\r\n

    Investment Results Calculator

    Interested in the value of your investment in Microsoft stock?

    \r\n Use this\r\n Investment Calculator to find the current value and return of Microsoft stock purchased at any prior date. Dividends and stock\r\n splits are included in the calculation.\r\n

    Direct Stock Purchase and Dividend Reinvestment Program

    Computershare, Microsoft's transfer agent, administers a direct stock purchase plan and a divident reinvestment plan for the company. To find out more about these programs you may contact Computershare directly at (800) 285-7772, Option 1, between the hours of 8 A.M. and 8 P.M. Eastern Time, Monday through Friday, and Saturday 9 A.M. and 5 P.M. Eastern Time. Alternatively, you can view the program online by going to the\r\n\t\tComputershare's website

    Dividend FAQ

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    \r\n
    7430436000

    Microsoft Corp (MSFT)

    stock details table
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    52 Week High
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    2023 ANNUAL REPORT

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    \r\n\r\n\t \r\n\t", + "page_last_modified": "" + }, + { + "page_name": "Dividend Dates Explained | Charles Schwab", + "page_url": "https://www.schwab.com/learn/story/dividend-dates-explained", + "page_snippet": "This video explains how stock dividend concepts work, including the ex-dividend date, declaration date, record date, and payment date.The day the dividend is announced, the day you need to be a shareholder to be eligible to receive that dividend, and the day the dividend is paid are all different. Understanding these dates can help you know what to expect when investing in dividend stocks. Narrator: Many companies share profits with their stockholders by paying cash dividends, which are automatically deposited into the shareholders\u2019 investment accounts. These automatic payments may seem like a straightforward way to profit from stocks and ETFs, but simply owning a stock on the day a dividend is paid doesn\u2019t guarantee you\u2019ll receive it. First, the company declares the dividend on the declaration date.", + "page_result": "\n\n\n\n\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Dividend Dates Explained | Charles Schwab \n \n \n \n \n \n \n\n\n\n \n\n\n\n\n \n\n
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    \n \n\n\n \n\n Dividend Dates Explained\n \n \n\n\n \n\n \n \n
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    \n \n February 2, 2023\n \n \n \n \n \n Beginner\n \n \n
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    \n This video explains how stock dividend concepts work, including the ex-dividend date, declaration date, record date, and payment date.\n
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    \n \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n \n\n \n \n \n \n \n \n\n\n\n\n\n\n\n\n\n\n\n
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    \n Watch video:\n Dividend Dates Explained\n

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    \n\n \n\n \n\n\n\n Transcript\n \n\n\n\n\n \n\n Open new window\n \n\n \n\n\n\n\n\n\n \n \n\n\n\n\n \n \n \n \n\n\n \n\n Dividend Dates Explained\n \n \n \n

    Upbeat music plays throughout.

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    Narrator: Many companies share profits with their stockholders by paying cash dividends, which are automatically deposited into the shareholders\u2019 investment accounts.

    \r\n\r\n

    These automatic payments may seem like a straightforward way to profit from stocks and ETFs, but simply owning a stock on the day a dividend is paid doesn\u2019t guarantee you\u2019ll receive it.

    \r\n\r\n

    The day the dividend is announced, the day you need to be a shareholder to be eligible to receive that dividend, and the day the dividend is paid are all different. Understanding these dates can help you know what to expect when investing in dividend stocks.

    \r\n\r\n

    Here\u2019s how it works.

    \r\n\r\n

    First, the company declares the dividend on the declaration date.

    \r\n\r\n

    This is when the board of directors announces how much each shareholder will receive per share.

    \r\n\r\n

    But shareholders don\u2019t get their dividend immediately.

    \r\n\r\n

    In fact, if you want the dividend but don\u2019t own shares yet, you still have time to buy. When the board of directors declares the dividend, it also announces what\u2019s called the record date.

    \r\n\r\n

    The record date is the date on which you must be a shareholder in order to receive a stock\u2019s dividend.

    \r\n\r\n

    To make sure shareholders get the dividends they\u2019re entitled to, the exchange that the stock trades on sets a cutoff prior to the record date called the ex-dividend date. If you want to receive a stock\u2019s dividend, you have to buy shares before\u2014not on\u2014the ex-dividend date.

    \r\n\r\n

    The ex-dividend date is usually one business day before the record date. For example, if the record date is on a Monday, the ex-dividend date usually falls on the previous Friday.

    \r\n\r\n

    The reason you need to purchase shares at least one day before the ex-dividend date is because it can take two days after your transaction for your trade to settle.

    \r\n\r\n

    After the record date, shareholders still have to wait for payment. The time between the record date and the payment date is different depending on the company, but it can vary from a week to over a month.

    \r\n\r\n

    If you sell your shares on the ex-dividend date or later, you\u2019ll still receive the dividend, even if you\u2019re no longer a shareholder on the payment date.

    \r\n\r\n

    So, let\u2019s say a company declares a high dividend payment. Does it pay off to purchase the stock before the ex-dividend date? Well, maybe, maybe not. While you\u2019d be able to receive the dividend, as you can imagine, the price of a stock may rise before the ex-dividend date due to increased demand. On the ex-dividend date, the price may drop.

    \r\n\r\n

    Let\u2019s say a company trading at $100 per share declares a $1 dividend. You have two choices: You could either buy its stock before the ex-dividend date to get that dividend, or you could wait until the ex-dividend date or later. But neither outcome is guaranteed to be more profitable than the other. This is because, in theory, the stock price should drop by the same amount as the dividend payment. So, in this example, if the company is giving away $1 of its income per share, its market price would hypothetically adjust to $99 per share.

    \r\n\r\n

    While in theory, buying shares before the ex-dividend date isn\u2019t necessarily more profitable than buying shares after, in real life, prices aren\u2019t always predictable.

    \r\n\r\n

    If you hear about an upcoming dividend payment and want in on the action, you\u2019ll need to know when the company\u2019s ex-dividend date is. So, remember, do your research, and stay up to date when buying investments that pay dividends.

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    This material is intended for informational purposes\u00a0only and\u00a0should not be considered\u00a0a personalized\u00a0recommendation or investment advice.\u00a0Investors should review investment strategies for their own\u00a0particular situations\u00a0before making any investment decisions.

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    All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.

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    Investing involves risks, including the loss of principal invested.

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    The information here is for general informational purposes only and should not be considered an individualized recommendation or endorsement of any particular security, chart pattern, or investment strategy.

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    Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

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