The date on which a cash dividend becomes a binding legal obligation is on the

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The declaration date is when the company's board of directors announces that a dividend will be paid to shareholders. This is the first step in making the dividend a legal obligation. The date of record determines which shareholders are eligible to receive the dividend, the payment date is when the actual distribution of funds takes place, and the last day of the fiscal year end is unrelated to dividend payments.

The Date on Which a Cash Dividend Becomes a Binding