With respect to stocks split or dividends, a pay date is the date that a company pays a dividend or stock split out, which is usually the day before the ex-dividend date.
                                                            
                                                     
                        
                                                
                        
                        
                            The date on which a vendor invoice is scheduled to be paid, regardless of terms.
                                                            
                                                     
                        
                                                
                        
                        
                            The date the shares from a split or dividend are sent to the shareholders.