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Time line of cash dividend. Camelot Manufacturing, Inc. issues the following press release: "Camelot Manufacturing will pay a quarterly divi­dend of $1.00 per share on the 20th of the following month to record holders as of the 20th of this month." The company made this announce­ment on September 3, 2014. Draw a time line of the dates around this dividend payment with a two-day settlement for stock transactions. Label the declaration date, the ex-date, the record date, and the payment date.

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Answer:

Declaration date = Sep 3, 2014

Ex - date = Sep 18, 2014

Record date = Sep 20, 2014

Payment date = Oct 20, 2014

Explanation:

Declaration date = This is the date of announcement of dividend.

Ex - date = The expiry date is 2 days before the record date.

Record date = the record date is the date on which share holders on record becomes eligible for dividend payment.

Payment date = This is the date of dividend payment.

Here,

Declaration date = Sep 3, 2014

Ex - date = Sep 18, 2014

Record date = Sep 20, 2014

Payment date = Oct 20, 2014

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