Given the circumstances, the fact that he purchased the stock on or after the ex-dividend date is what prevented him from receiving the dividend.
A corporation's board of directors decides whether to pay a dividend to its shareholders. Quarterly dividend payments are common and can be provided in the form of cash or stock reinvestments. The dividend yield, or dividend per share, is expressed as a percentage of a company's stock price, for instance, 2.5%. A dividend payment is due to a common shareholder of a firm that pays dividends if they owned the shares on the ex-dividend date or earlier.
The dividend is only given to investors who purchased the stock prior to the ex-dividend date, thus Raheem would not be eligible for it if he purchased the stock on or after that date.
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