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LSDefine
Simple English definitions for legal terms
payable date
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A quick definition of payable date:
The payable date is the official date on which a company's shareholders will receive their dividends or distributions. It is also known as the record date. This is the date when the company checks its records to see who owns shares and is entitled to receive the dividend. The payment date is the day when the dividend or interest checks are actually paid to the shareholders. It is important for investors to keep track of these dates to ensure they receive their payments on time.
A more thorough explanation:
Definition: The official date on which shareholder dividends or distributions become payable.
Example: If a company declares a dividend on May 1st and sets the payable date for June 1st, shareholders who own the stock on June 1st will receive the dividend.
Explanation: The payable date is the date when shareholders will receive the dividend or distribution that has been declared by the company. It is important for shareholders to know this date so they can make sure they own the stock on that day in order to receive the payment.