Which of the following dates is not declared by the board of directors of a corporation?

The ex-dividend date is not declared by the board of directors of a corporation. Instead, this date is determined based on stock market rules and the timing of when the stock is traded. The ex-dividend date is typically set one business day before the record date. Important for investors, this date indicates when a stock begins to trade without the right to receive the declared dividend. If an investor purchases the stock on or after the ex-dividend date, they will not be entitled to the upcoming dividend payment.

In contrast, the declaration date, record date, and payable date are all officially declared by the board of directors. The declaration date is when the board announces the dividend, the record date is the cut-off date used to determine which shareholders are entitled to receive the dividend, and the payable date is when the corporation actually pays out the dividend to eligible shareholders. Understanding these distinctions is crucial in the context of corporate dividends and shareholder rights.