Who Sets the Ex-Dividend Date? Not the Board
Who sets the ex-dividend date? The listing exchange does, under FINRA uniform practice rules, working from the record date and the T+1 settlement cycle.
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When Did the US Stock Market Start? 1792
The US stock market started with the 1792 Buttonwood Agreement, signed by 24 brokers. Every date that follows, and how a call auction became 9:30 to 4:00.