The date of payment is the date established by the board of directors that determines which stockholders will receive the dividend.

Name: The date of payment is the date established by the board of directors that determines which stockholders will receive the dividend.
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The date of payment is the date on which the dividend is actually paid to the shareholders. The date established by the board of directors that determines which stockholders will receive the dividend is called the record date.

The Date of Payment Is the Date Established by the Board