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Shareholder of record

The shareholder of record is the one who receives the dividend payment.

Expanded Definition

Dividends are paid to the owner recorded on the books of the stock registrar. When a stock is traded, the new ownership is recorded three days after the trade date. Hence, dividends are paid with an "x" date, the date after which the buyer will no longer get the dividend, usually indicated with an x footnote next to the dividend in the newspaper listings.

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