The dates of importance in connection with a cash dividend declared and paid of $375,000 on a corporation's common stock are June 6, July 15, and August 14, Match the dates to what they are called:
Date of Record, Date of Declaration, Date of Payment
To match the dates with their corresponding names, we need to understand the process of declaring and paying a cash dividend on a corporation's common stock.
1. Date of Declaration:
This is the date on which the corporation's board of directors officially announces the decision to pay a cash dividend. It is the date when the amount of the dividend and the date of payment are determined.
2. Date of Record:
This is the date on which the corporation determines the shareholders who are eligible to receive the dividend. Shareholders who are listed on the company's record on this specific date will receive the dividend.
3. Date of Payment:
This is the date on which the actual payment of the declared cash dividend is made to the eligible shareholders.
Now, let's match the dates given in the question to their corresponding names:
June 6: Date of Record
July 15: Date of Declaration
August 14: Date of Payment