What is the meaning of Ex-dividend?

Ex-dividend is an ex-dividend period exists between the announcement and the subsequent payment of a dividend on a stock or mutual fund. Any investors who buy in the ex-dividend period, which may run from a week to a month or more, are not entitled to the dividend. On the day the ex-dividend period begins, the stock is said to go ex-dividend. Generally, the price of a stock rises in relation to the amount of the anticipated dividend as the ex-dividend date approaches. It drops back on the first day of the ex-dividend period to reflect the amount that is being paid out.