Even if bad doesn't matter. As one poster stated correctly, the only date that matters for who is entitled to the dividend is the ex-div date. SEC rule states that to obtain the dividend, a buyer must buy the stock one or more business days prior to the ex-div date. If a seller sells it one or more business days before the ex-div date, the seller loses the dividend. If the seller sells the stock on the ex-div date or after, the seller receives the dividend.The date of receiving the dividend (payable date) only means the date it is paid, not who receives it.