Payment Date
Quick definition: The payment date is the day a company actually pays out a declared dividend, usually a few weeks after the record date.
In plain English
The payment date (or pay date) is when the cash lands in your account. It comes after the declaration date, the ex-dividend date and the record date.
Example
A company declares a $0.60 dividend. The ex-dividend date is March 14 and the payment date is April 2. If you owned the shares before March 14, the money arrives on April 2.
Why it matters
If you plan your income month by month, the payment date matters more than the other dates, because it decides when you can spend or reinvest the money.
Common mistakes
- Assuming pay months are fixed. Companies can change their schedule, so check each declaration.
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