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Record date

• The date established by a corporation's board of directors that determines which of its stockholders are entitled to receive dividends or rights distributions.

• (1) Date by which a shareholder must officially own shares in order to be entitled to a dividend. For example, a firm might declare a dividend on Nov 1, payable Dec 1 to holders of record Nov 15. Once a trade is executed an investor becomes the owner of record on settlement, which currently takes 5 business days for securities, and one business day for mutual funds. Stocks trade ex-dividend the fourth day before the record date, since the seller will still be the owner of record and is thus entitled to the dividend. (2) The date that determines who is entitled to payment of principal and interest due to be paid on a security. The record date for most MBSs is the last day of the month; however the last day on which they may be presented for the transfer is the last business day of the month. The record date for CMOs and asset-backed securities vary with each issue.

 
 

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 Embedded terms in definition
 Board of directors
Distributions
Dividends
Dividend
Firm
Holders of record
Interest
Investor
Issue
Mutual funds
Mutual fund
Order
Principal
Rights
Securities
Security
Settlement
Shares
Trade
Will
 
 Related Terms
 

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