Record date or date of record is the date on which a list of shareholders of a stock are extracted from the register in order to process a corporation actions such as stock split, stock merge, bonus issue, right issue, and dividend payments.For those investors that are owning the stock on record date, they are eligible and entitled to receive dividend distributions. Hence, sometimes, record date is also referred as entitlement date , dividend date or date of record. Besides, record date determines the ex-date for dividend payment. The ex-date usually is 2 stock trading days before record date to ensure all the investors that complete buy order before ex-date are eligible to receive dividends. For those investors that are eligible to entitle for dividend, the issuing companies will send out the cheque on payment date to those investors.