Prior to announcing the year-end results of companies, dates are set out for the Closure of Register of Members for the purpose of payment of dividend and/or issue of scrip popularly known as 'Bonus'. These dates will determine the qualification for dividends and/or scrip. Hence, "cum div" or "cum scrip" means that a shareholder who purchases stock of a company before the Closure of Register will be entitled to all the benefits payable on the investment while "ex div" or "ex scrip” means that the purchases were made after the Closure of Register which connotes that the shareholder is not entitled to the benefits. On the other hand, if you sell your shares before the Closure of Register, you sold "cum div" and "cum scrip" and hence you will not enjoy the dividend or scrip to be issued at the coming AGM. The reverse is the case when you sell your share "Ex Div" and “Ex Scrip"