The day on which the owners of a ﬁrm are ascertained for dividend purposes is called the:

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The date of record is the day on which the owners of a firm are ascertained for dividend purposes. This is important as only shareholders who are recorded on this day will receive dividends. The other options refer to different stages in the dividend payment process. The declaration date is when a firm announces the dividend payment, the payment date is the day when the actual payment is made, the ex-dividend date is the day after the date of record, and the cum-dividend date is the date when a stock trades with the right to receive the dividend.

The Day on Which the Owners of a ﬁRm Are