Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Territorial Bancorp Inc. ( NASDAQ:TBNK ) is about to trade ex-dividend in the next 4 days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. This means that investors who purchase Territorial Bancorp's shares on or after the 10th of May will not receive the dividend, which will be paid on the 25th of May.