These dates are a process for dividend distribution by listed joint-stock companies.

1. First of all, the Plan Announcement Day, as the name implies, is the day when listed companies announce their dividend preparation plans, but whether they can be implemented still requires the approval of the securities regulatory authorities and the general meeting of shareholders.

2. On the equity registration day, after the market closes on this day, the exchange securities registration company will automatically determine the identity of the investors holding the shares of the listed company in their accounts to determine who can enjoy the dividend distribution.

Note: If the purchase is completed on the equity registration day, and the stock is cleared on the exchange after the market closes, you can also enjoy dividend distribution.

3. Ex-rights and ex-dividend date: Generally, it is the trading day next to the equity registration date. Starting from this day, if you buy the shares of the listed company, you will no longer be able to enjoy the dividend distribution. As the name suggests, the right to distribute dividends and interest has been released.

4. Dividend payment date: The exchange officially transfers the determined dividend amount to the securities investor’s personal capital account, and it is generally available within the next day.

Note: After the dividend plan is announced, there is still a certain degree of uncertainty in the plan, but equity registration will not take place in four to seven days.

Some listed companies' dividend plans in previous years have not been actually distributed due to some uncertain reasons.