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What is the difference between record date, ex-date and payable date?

April 26, 2017difference ex-date Payable record

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What is the difference between record date, ex-date and payable date?

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The Record Date refers to the shareholders of “record” on this date who are entitled to the distribution. The Ex-date is the next date after record date on which the net asset value (NAV) drops by the amount of the distribution. The Payable Date is the date that payments are sent to shareholders that do not reinvest their distributions. Those shareholders who reinvest their distributions receive additional shares.