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What Is the Record Date?

The record date is the reference date on which shareholders listed in the shareholder register are entitled to receive dividends and shareholder benefits.

How it works

A company sets a record date, such as its fiscal year-end, and pays dividends or provides shareholder benefits to the shareholders listed in the shareholder register as of that date. Because it takes a certain number of days after purchasing shares before the transaction is actually reflected in the shareholder register, purchasing on the record date itself is too late.

What to keep in mind

Some companies set multiple record dates per year, such as for an interim dividend and a year-end dividend. Note that the final deadline for purchasing shares in order to qualify for a dividend or benefit (the last trading day with rights attached) is not the record date itself, but rather a few business days before it.

This article is provided for general informational purposes only and does not recommend or solicit the purchase or sale of any specific investment method or security. Final investment decisions are your own responsibility.

Frequently Asked Questions

When is the record date set?
It varies by company. Many companies set their record date at the end of their fiscal year (often the end of March or September), while some set separate record dates each quarter for dividends or benefits. The record date for an individual stock can be confirmed in that company's disclosures.
If I hold shares on the record date, am I guaranteed to receive the dividend?
You need to be recorded in the shareholder register as of the record date. Because settling a stock trade takes several business days, you need to have purchased the shares by two business days before the record date (the business day before the ex-dividend date).

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