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TeachMeFinance.com - explain Books close historic definition... Books close -- Relates to transfer books for stocks . On an advertised day prior to the payment of a dividend on a stock the transfer books close and the stockholders then of record receive the dividend. On and after the day the books close the stock sells ex-dividend or without the dividend. The transfer books also are closed on an advertised day prior to an election or other stockholders' meeting and only stockholders then of record can vote at that election or meeting. A contract in a stock falling due during the regular closing of the transfer books of the company is settled at maturity by the delivery of a certificate and power of attorney; on a contract which is at the option of the buyer or of the seller notice for settlement may be given as if the books were open. In case the books are closed for a dividend the party entitled to it receives a due bill for it. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2007 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.