From Morningstar:

Dividends are an important part of an investor’s income. There are four key dates to be aware of for dividend payment: the declaration date, the ex-dividend date, the record date, and the payout date. These dates determine when shareholders must own shares in order to receive dividends and when dividends are actually paid out.

The declaration date is when a company officially announces its dividend. The amount of the dividend and the record date are set at this time. The ex-dividend date is when shares begin trading without the right to the next dividend, and the company’s stock is discounted by that amount. Investors must own shares on the record date to receive dividends, which is typically the business day after the ex-dividend date. The payout date is when dividends are distributed to shareholders of record and can occur days or weeks after the record date.

European and UK companies typically pay dividends on a quarterly, semi-annual, or annual basis depending on their dividend policy. Companies with stable dividend payments may occasionally offer special dividends as a one-time payment when they come into unexpected cash surpluses. The decision to grant a special dividend is made by the company’s board of directors and is subject to shareholder approval.



Read more: When Do My Dividends Get Paid?