Answer: ex-date.

## Explanation To be eligible for an upcoming dividend, an investor must purchase the share **before the ex-dividend date**. The ex-dividend date is typically set **two business days before the record date** due to the T+2 settlement period in most markets. ### Key Dates in Dividend Process: 1. **Declaration Date**: When the company announces the dividend 2. **Ex-Dividend Date**: The first day the stock trades without the dividend 3. **Record Date**: When the company reviews its records to determine eligible shareholders 4. **Payment Date**: When dividends are actually paid ### Why the answer is A (ex-date): - The ex-dividend date is the cutoff point for dividend eligibility - To receive the dividend, you must purchase the stock **on or before** the trading day before the ex-dividend date - If you buy on the ex-dividend date or later, you will NOT receive the dividend ### Settlement Period Consideration: Because stock transactions settle on T+2 basis (trade date plus 2 business days), the ex-dividend date is set two business days before the record date. This ensures that only shareholders who owned the stock before the ex-dividend date will be on the company's records on the record date. **Correct Answer: A (ex-date)**

Author: LeetQuiz .