Answer: Hostas can be dug up and divided in very early spring just as they begin to emerge from the ground. They can also be divided later in the season but it is a little more unwieldy with all the foliage unfurled. Replant at the same depth as they grew before and keep well watered and mulched until they are re-established.
Daylilies are treated in the same way, with early spring and early fall being the preferred times to divide them as well, although it can be done at almost any time as long as they are kept well watered afterwards.
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