Exxon question

[purple monkey]

So I am going to sell my Exxon stock soon.
The dividend payment on record is the 11th.
I have never sold between record date and payout.
If I see on the 12th, how will they know to pay me the dividend to my Vanguard account?
Thanks so much!

[forummm]

Does "see" = "sell"? Your shares are registered in your name with your broker. So there's a "record date" that is a few days after the ex-dividend date (due to the settlement period). The record date is the time when official owners of the stock for certain purposes are determined. But because of the settlement period you have to own it on the ex-div date in order to be the owner of record on the record date. So if you sell it after the ex-div date (the day after or later) the dividend funds will be sent to you to the account where you held the shares.

Here's a good explanation
https://www.sec.gov/answers/dividen.htm

[csprof]

But consider whether you want the dividend, or if you can sell it right before and treat things as long term capital gains.

(Recall that stocks typically drop by an amount equal to the dividend on the ex-dividend date.)

In many cases, you might be better off selling the day before the ex-dividend date.  But it depends how long you've hold the stock, etc., etc.