Why is an ex dividend date after a payment date

The ex-dividend date is set after the payment date because it represents the date on which the dividend will be paid to investors who owned the stock on or before that date. The payment date is the actual date when the dividend is distributed to shareholders. Ex-dividend Date: This is the date after which dividend payments will no longer be paid to investors who purchase a stock. It is usually set one business day before the record date.Record Date: This is the date on which the company compiles a list of shareholders entitled to receive the dividend. It is set by the company's board of directors.Payment Date: This is the date when the dividend is actually paid to investors. It is typically set after the ex-dividend date.The ex-dividend date is important for investors because it determines whether they will be eligible to receive the upcoming dividend payment. Investors who purchase shares before the ex-dividend date will be documented as owners of shares on the record date and will be entitled to receive the dividend payment. On the other hand, investors who purchase shares on or after the ex-dividend date won't be recognized as shareowners on the record date and the seller will still be the owner of the record and will receive the dividend payment.