Usually it goes like this for regular cash dividend: Declaration Date > Ex-Dividend Date > Record Date > Payable Date Cash dividends of 25% or more of a company's stock price represent a fraction of one percent of all dividends paid and are handled quite differently from normal dividends. There are some similarities, however. Like normal dividends, unusually large dividends have a declaration date, a record date, an ex-dividend date and a payment date. But we are NOT talking about cash dividend, we are talking about stock dividend distribution? Does this concept still apply?