# Ex-Dividend Date

*Saving & Investing — Finicade finance glossary*

The ex-dividend date is the cutoff: buy on or after it and the seller, not you, receives the upcoming dividend. The price typically drops by roughly the dividend amount that morning, which is why 'dividend capture' strategies rarely produce free money. The dates that matter in order are declaration, ex-dividend, record and payment, and the ex-date is the only one that determines who gets paid.

**Also known as:** ex-date, ex dividend, record date

**Related terms:** [Dividend](https://finicade.com/glossary/dividend), [Dividend Yield](https://finicade.com/glossary/dividend-yield), [Dividend Reinvestment (DRIP)](https://finicade.com/glossary/dividend-reinvestment), [Settlement (T+1)](https://finicade.com/glossary/settlement), [Stock (Equity)](https://finicade.com/glossary/stock)

Source: https://finicade.com/glossary/ex-dividend-date