What happens when a stock goes "ex-dividend" -- and if a stock is sold, who gets the dividend?

When a stock goes ex-dividend, the company's dividend* for that quarter will be paid to the stock's owner on the previous day. Hence, whoever buys the stock on the ex-dividend day will NOT get the last quarter's cash dividend. The key is who owned the stock on the day prior to the ex-dividend date, also known as the date of record.

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