(Terminology)

Define each of the following dates and place them in their proper order with respect to the payment and receipt of cash dividends: date of record, ex-dividend date, declaration date, and payment date.

The

date of record

ex-dividend date

payment date

declaration date

is the date upon which stock brokerage companies have uniformly decided to terminate the right of ownership to the dividend, the

payment date

ex-dividend date

declaration date

date of record

is the date upon which a dividend is formally declared by the board of directors, the

payment date

date of record

ex-dividend date

declaration date

is the date on which the company mails a dividend check to each investor of record, and the

declaration date

date of record

payment date

ex-dividend date

is the date at which the stock transfer books are to be closed for determining the investors to receive the next dividend payment.(Selct from the drop-down menus.)

Which of the following shows the proper order of the dates during the dividend payment procedures? (Select the best choice below.)

A.

Declaration date, Ex-dividend date, Date of record, Payment date

B.

Date of record, Declaration date, Payment date, Ex-dividend date

C.

Payment date, Date of record, Ex-dividend date, Declaration date

D.

Ex-dividend date, Payment date, Declaration date, Date of record