The day on which the board of directors of the corporation distributes a dividend is called the declaration date.

Declaration Date

The specific date on which a company announces the payment of a dividend, detailing the amount to be paid and to whom it will be distributed.

Board of Directors

A group of individuals elected by shareholders to oversee the management and governance of a corporation.

Dividend

A portion of a company's earnings which is paid to shareholders, usually on a quarterly basis.