Ex-dividend date (Ex-Tag)
The day from which a stock trades without the right to the next dividend.
In short
As of 8 October 2026The ex-dividend date is the day from which a stock trades without the right to the upcoming dividend. In Germany it is usually the business day after the annual general meeting. If you own the share by the day before, you receive the dividend. On the ex-date the price typically falls by roughly the dividend amount.
On the ex-dividend date the stock trades 'ex dividend' for the first time. If you buy only on that day, you no longer get the upcoming dividend. If you bought by the day before, you do, even if you sell on the ex-date.
In Germany the ex-date is usually the business day after the annual general meeting. The record date follows the next day, and payment usually comes on the third business day after the meeting. On the ex-date the price typically drops by roughly the dividend amount, so buying just before is no free lunch.
Example: the meeting is on Thursday and the dividend is 3 euros. The ex-date is Friday and the stock opens about 3 euros lower. More in the chapter on dividends.
Related terms
Sources
As of 8 October 2026 · Educational content, not investment or tax advice.