The record date is the cutoff established by a company to determine the shareholders eligible to receive a dividend or distribution. This pivots from the ex-dividend date, when the stock started trading without the value of its next dividend payment.

The record date will usually be the trading day following the ex-dividend date, which is the trading date the dividend is no longer owed to new buyers of the stock.

To be eligible for the upcoming dividend, you must buy the stock at least two business days before the record date.