The last date on which any
dividend on a
stock that has been declared but not distributed belongs legally to the buyer, rather than the seller. That is, when one sells a stock on or before the record date, the dividend will go to the buyer when the next dividend comes. On the other hand, if it is sold after the record date, the dividend will go to the seller. In practical terms, the record date is the
trading day immediately before the
ex-dividend date. It is also called the date of record.