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Guide · 2 min read

What is an ex-dividend date?

EugeneBy Eugene

The ex-dividend date (or "ex-date") is the cut-off that decides who receives a dividend. The rule is simple: you must already own the shares before the ex-date to be entitled to that dividend. Buy on the ex-date or later, and the dividend goes to the seller instead.

The four dates to know

  • Declaration date — when the company announces the dividend, the amount, and the dates below.
  • Ex-dividend date — the cut-off. Own the shares before this date to qualify.
  • Record date — usually the business day after the ex-date; the company checks its register to confirm who the shareholders are.
  • Payment date — when the cash actually lands in your account, typically a few weeks after the ex-date.

Why the share price usually drops on the ex-date

On the ex-date, the share price typically falls by roughly the dividend amount. That is not a loss — it simply reflects that new buyers no longer get the upcoming payout, so they pay a little less. If a S$2.00 stock pays a S$0.10 dividend, it might open around S$1.90 on the ex-date. The S$0.10 has not vanished; it is on its way to existing shareholders as cash.

The "dividend capture" myth

Tempting, but no → Buy just before the ex-date, collect the dividend, sell straight after for free income? It rarely works — the ex-date price drop roughly cancels the dividend, and you'd owe brokerage on both trades. Dividends reward holding good businesses, not timing the calendar.

How to use it in practice

If you want a stock's next dividend, make sure you own it before its ex-date — buying at least one trading day earlier is the safe approach. You do not need to keep holding until the payment date; once you are past the ex-date as an owner, the dividend is yours even if you sell.

You can see the next ex-dates and pay dates for every SGX counter, in order, on the Singapore dividend calendar — and each stock page lists that counter's full history of past ex-dates and amounts.

The one rule

Own the shares before the ex-date to get the dividend — buying at least a trading day earlier is the safe move.

See upcoming ex-dividend dates →
Eugene
Eugene
A regular Singaporean dad who got tired of cluttered, confusing finance sites
Common questions
+Do I need to hold a stock until the payment date to get the dividend?
No. As long as you owned the shares before the ex-dividend date, the dividend is yours — even if you sell before the payment date. Entitlement is fixed at the ex-date, not the pay date.
+If I buy a stock on its ex-dividend date, do I get the dividend?
No. Buying on the ex-date or later means you are not entitled to that dividend — it goes to the previous owner. You must own the shares before the ex-date.
+Why does a share price fall on the ex-dividend date?
Because new buyers no longer receive the upcoming dividend, the stock trades lower by roughly the dividend amount on the ex-date. It is a mechanical adjustment, not a loss — the cash is being paid out to existing shareholders.