How to Use the Dividend Capture Strategy

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Dividend Timeline

At the heart of the dividend capture strategy are four key dates:

• Declaration date: The board of directors announces dividend payment. This is the date when the company declares its dividend. It occurs well in advance of the payment.
• Ex-dividend date (or ex-date): The security starts to trade without the dividend. This is the cut-off day for being eligible to receive the dividend payment. It's also the day when the stock price often drops in accord with the declared dividend amount. Traders must purchase the stock prior to this critical day.
• Date of record: Current shareholders on record will receive a dividend This is the day when a company records which shareholders as eligible to receive the dividend.
• Pay date: This is the day when the dividend is paid and the company issues dividend payments