13. The following announcement appeared on the financial page of a newspaper:

The Board of Directors of Benton Co., at its meeting on June 15, 2002, declared the regular quarterly dividend on outstanding common stock of $ 1 .40 per share, payable on July 10, 2002. to the stockholders of record at the close of business June 30, 2002.

(a) What is the purpose of each of the three dates given in the announcement?

(b) When would the common stock of Benton Co.

normally trade "ex-dividend"?