XD (Ex-Dividend)

A designation appended to a stock's ticker symbol indicating that it is trading without the value of the next declared dividend. If you buy a stock on or after its ex-dividend date (marked XD), you will not receive the upcoming dividend payment -- only shareholders of record before that date qualify. The stock price typically drops by roughly the dividend amount on the ex-dividend date, which is why dividend capture strategies require careful timing and transaction cost analysis.