Distinguish among the declaration date, date of record, and ex-dividend date. (Select the best choice below.)

A.

The declaration date is the day the board of directors declares the dividend, the date of record is eight days prior to the payment date, and the ex-dividend date is two working days prior to the date of record.

B.

The declaration date is the day the board of directors declares the dividend, the date of record is the day when the stock transfer books are closed, and the ex-dividend date is the same as the date of record.

C.

The declaration date is the day the board of directors declares the dividend, the date of record is the day when the stock transfer books are closed, and the ex-dividend date is two working days prior to the date of record.

D.

None of the above.