Buy today will not get bonus.. Today is already ex-date..

Cum dividend/ex-date/payment date

You need to fully understand the terms that are used in order to 'play' the dividend game.

In-dividend date (better known as cum dividend)

Indicated by a "C" beside the name of the listed counter : 

The last day of trading to receive the dividend. It is one trading day before the ex-dividend date, where the stock is said to be "cum dividend" (in other words, the stock that you hold comes with the dividend).
Existing shareholders and anyone who buy and hold the stock on this day (i.e. until the end of that particular trading day e.g. 5:00pm) will receive the dividend. Even if you bought the shares at 4:59pm on the last in-dividend date, you are still entitled as you held the shares until the ex-date.
After this date, the stock becomes ex-dividend

Ex-dividend date (better known as ex-date)

Indicated by an "X" beside the name of the listed counter : 

The date after the dividend is allocated (note the word "allocated" as the dividend is not actually paid to shareholders yet)
Shares bought on this day onwards will no longer come with the dividend
However, shares that you held up to this day can be sold and you will still receive the dividend (as you held the shares past the in-dividend date)

The following illustration will give a better picture:




Stock prices on ex-date

The stock price usually 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.
--- For example, when a dividend of $1,000,000 is declared (e.g. 6 sen per share), distributed and paid, the corporation’s cash is reduced by $1,000,000 and its retained earnings (part of stockholders’ equity) is reduced by $1,000,000. Due to the reduction in the corporation's cash/equity, it's stock price is also reduced accordingly (as the company's stock price is a reflection of it's assets (which including it's cash). If the stock price was RM 1.50, it would be RM 1.44 (RM 1.50 - 0.06) after the dividend is allocated.

Dividend : 6 sens
Ex-date : 20/5/2009
In-dividend date share price (19/5/2009): RM 1.50
Ex-dividend date share price (20/5/2009): RM 1.50 - 0.06 = RM 1.44


Payment date

The day when the dividend cheques will actually be mailed to the shareholders of a company or credited to brokerage accounts


Let's stop and review what we have learned. Let's take a look at UCHITEC's announcement as below:



Entitlement Date and time : 30/6/2009 5:00pm
Year Ending/Period Ending/Ended date : 31/12/2008
Ex-date : 26/06/2009
Payment date : 17/07/2009



From this announcement, you'll understand that you can get the dividend by just buying the stock before 5pm on 25/6/2009 and hold it until the next. day. Once the stock goes ex-date, i.e. 26/6/2009, you can sell the stock and still get the dividend.