The ex-dividend date is the date on which the transfer agent "closes the book" and looks at who is the shareholder.

Question

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The ex-dividend date is the date on which new buyers of a stock are not entitled to receive the next dividend payment; it is not the date when the transfer agent "closes the book". The record date, not the ex-dividend date, is when the company looks at its list of shareholders to determine who will receive the dividend.

The Ex-Dividend Date Is the Date on Which the Transfer