Financial Encyclopedia
The date of record
Definition
Book closure date is the date on which the list of shareholders entitled to receive dividends is drawn up. If a shareholder is on this list, then he will be paid dividends depending on the number of shares he owns.
Example
The company received 2 billion rubles of net profit. The company's management decided to distribute half of the net profit as dividends and announced this on May 30.
Along with the decision on the amount of dividends, another date is announced, for example, August 5, which is the closing date of the register (dividend cut-off date).
More detailed
However, the Book closure date is not the deadline for purchasing securities, it is necessary to take into account the Mode of Trading on the stock exchange and determine the ex-dividend date. For example, on the Moscow Exchange, the trading mode is T+2.
Therefore, to determine the ex-dividend date, it is necessary to subtract 2 business days from the Book closure date.
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