<P> In - dividend date--the last day, which is one trading day before the ex-dividend date, where the stock is said to be cum dividend (' with (including) dividend'). In other words, existing holders of the stock and anyone who buys it on this day will receive the dividend, whereas any holders selling the stock lose their right to the dividend . After this date the stock becomes ex dividend . </P> <P> Ex-dividend date--the day on which shares bought and sold no longer come attached with the right to be paid the most recently declared dividend . In the United States, it is typically 2 trading days before the record date . This is an important date for any company that has many stockholders, including those that trade on exchanges, to enable reconciliation of who is entitled to be paid the dividend . Existing holders of the stock will receive the dividend even if they sell the stock on or after that date, whereas anyone who bought the stock will not receive the dividend . It is relatively common for a stock's price to decrease on the ex-dividend date by an amount roughly equal to the dividend paid . This reflects the decrease in the company's assets resulting from the declaration of the dividend . </P> <P> Book closure date--when a company announces a dividend, it will also announce a date on which the company will ideally temporarily close its books for fresh transfers of stock, which is also usually the record date . </P> <P> Record date--shareholders registered in the company's record as of the record date will be paid the dividend . Shareholders who are not registered as of this date will not receive the dividend . Registration in most countries is essentially automatic for shares purchased before the ex-dividend date . </P>

Which of the following is used by corporations to distribute their income to shareholders