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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.
There are four major dates in the process of a company paying dividends: Declaration date - This is the date on which the board of directors announces to shareholders and the market as a whole that the company will pay a dividend. Ex-date or Ex-dividend date - On (or after) this date the security trades without its dividend. If you buy a dividend paying stock one day before the ex-dividend you will still get the dividend, but if you buy on the ex-dividend date, you won't get the dividend.