exclusive of dividend: applied to a stock traded when payment of a dividend is pending, indicating that the price of the security does not include any dividend declared (distinguished from cum dividend).
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British Dictionary definitions for ex dividend
without the right to the current dividend: to quote shares ex dividend Compare cum dividend
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012