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newbie question

last day for buying the stock entitling u to dividend is 5 may. the counter will show CD. u have to keep the stock till 6 may to have the dividend. which means u can sell the stock on 6 may, tues, 9am when market opens. the stock will show XD then. u will get ur dividend on 22may.

 

guys care to explain the definition and the dates means...when is the closing date or when can i sell inorder to receive the dividend, why so many dates given?

example 1                                                                                      

Ex-date	06 May 2008
Buy-In Last Cum Date	09 May 2008
Record Date	08 May 2008
Date Paid/Payable	May 22 2008