A Pay Date, also known as payment date or payable date, is the day on which the dividend declared on a stock is to be paid to the eligible investors. The pay date is the date when the dividend is actually credited to the account of all eligible shareholders. Only those shareholders who were on the company’s records on the ‘record date’ and eligible will receive the dividend on the pay date. The day before the record date is the ex-dividend date or ‘ex-date’.The share price may fall upto the amount of dividend after ex- date as a reflection of it being ‘without dividend’.
