Houston Natural Resources Corp (HNRC)

[Dontblink]

Since dividend time is rolling around again can someone explain to me in simple terms what does "trade ex-dividend" mean? I know the shareholder has to be on record through September 30th, but I am not sure about the "trade ex-dividend" part.

The first dividend payable to Worldwide shareholders of record on June 30, 2014 will be issued on July 31, 2014 and will be treated as an ordinary dividend, as will the dividends to be paid to shareholders of record on September 30 and December 31. The company shares will trade ex-dividend for the period July 1 to July 31, 2014.