What is an ex-date?
The first day of the no delivery (ND) period is the ex-date. In case, a company declares a corporate benefit such as rights, bonus, dividend etc. for which a fixed date is specified for the book closure, the buyer(s) of the said shares will not be eligible for any corporate benefits whereas the seller(s) of such shares would be eligible for the same.
The first day of the ‘No Delivery’ period is the ex-date viz., if there is any corporate benefit such as rights, bonus, dividend etc. announced for which book closure/record date is fixed, the buyer of the shares on or after the ex-date will not be eligible for the benefits while the seller would be eligible for the same.