When the buyer of an existing share is to receive the pending dividend, the price is

When the buyer of an existing share is to receive the pending dividend, the price is referred to as "cum div." The term "cum div" is short for "cumulative dividend," which means that the buyer will receive the dividend payment that has already been declared by the company. In other words, when a share is sold cum div, the seller is entitled to receive the dividend payment that has been declared by the company, but has not yet been paid out. The buyer of the share is also entitled to receive this pending dividend payment, since they will own the share when the dividend is paid. The opposite of cum div is "ex-div," which means "without dividend." When a share is sold ex-div, the buyer is not entitled to receive the pending dividend payment, since they did not own the share when the dividend was declared. So, if a buyer wants to receive the pending dividend payment for an existing share, they would need to purchase the share cum div, not ex-div.