Book-closure/Record date & Ex-Date

Book closure is the process in which companies bring clarity in the process of ownership of stocks.It is a date till which an individual must hold the stock in order to enjoy certain benefits from the stock.

Record date is used by the companies in order to recognize the cut-off date for figuring out which investors on record will get a dividend for that period.

Ex-date or the ex-dividend date is basically one business day before the record day. You will not receive the next dividend payment by the company if you purchase stocks on the ex-date.

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