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Regardless, Colgate-Palmolive's new dividend will be paid on May 15 to stockholders of record as of April 21. It would yield 2.2% on the most recent closing share price. That's a bit higher than the current 1.9% average of dividend-paying stocks on the S&P 500.
When a company declares a dividend, it sets a record date when you must be on the company's books as a shareholder to receive the dividend. Once the company sets the record date, the stock exchanges fix the ex-dividend date. The ex-dividend date is normally two business days before the record date. If you purchase a stock on or after its ex-dividend date, you will not receive the next dividend payment. Instead, the seller gets the dividend. If you purchase before the ex-dividend date, you will get the dividend.