Dividend is the share in the profits of a corporation which is paid to the stockholders out of the unrestricted retained earnings, in proportion to the number of shares owned by the stockholders. This may be given in the form of cash, stock or property.
To qualify for dividends, you must have the shares of the issuing stock at least one (1) day before the given Ex-Date. Shares bought on or after the ex-date will no longer be entitled to the dividends. You can sell the shares on or after the Ex-Date and still qualify for the dividend as long as the shares were bought before the Ex-date.
COL issued a cash dividend of Php0.11/share with Ex-Date April 12, 2016. Shareholders who own shares of this stock as on end of trading on April 11, 2016 will receive the corresponding dividend on payable date April 22, 2016. Shares bought on April 12 and onwards no longer qualify for the dividend.