Dividends · updated October 21, 2026
What is the ex-dividend date and when do you have to buy to get the dividend
The ex-dividend date is the first day on which, if you buy the stock, you no longer get the announced dividend. To get the dividend, you have to buy no later than the trading day before.
How it is calculated
There are four dates to know: the declaration date (the company says how much it will pay), the ex-dividend date, the record date (who is on the shareholder register) and the payment date (when the cash reaches your account). On EU exchanges, including Romania, the ex-dividend date is one business day before the record date. In the US, since May 2024, the two fall on the same day, because trades now settle the next business day.
Worked example
The record date is Thursday, May 15. The ex-dividend date is Wednesday, May 14.
If you sell on the ex-dividend date itself, you still get the dividend: what counts is that you held the stock at the close of the day before.
When the ex-dividend date can fool you
The price drops by the dividend: on the ex-dividend date the price usually adjusts by roughly the dividend amount, so you cannot profit by buying the day before and selling right after.
Related terms
Questions about the ex-dividend date
Do I get the dividend if I sell on the ex-dividend date?
Yes. If you held the stock at the close of the day before, the dividend is yours, even if you sell the next day.
Why does the price fall on the ex-dividend date?
Because the dividend cash leaves the company, and anyone buying from that day on no longer receives it.
These explanations are for information only. They are not a recommendation to buy or sell.
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