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Ex-Dividend
It is a trading of securities which is carrying the right to declared dividend for the seller, not the buyer.
Stock will be called Ex-Dividend on the ex-date which is set by NASD, which is usually two days before record date which is set by issuing company.
In that period, if the investor sells the security, he will have the rights to dividend, not the buyer. Because of that, the price of sold security will be reasonable lower.
| Related Terms: Dividend |