Meta-content or time-datetime

Question

How to show datePublished and dateModified Microdata?
(I want to prioritize dateModified, this is why I do not show datePublished to the public)

Option 1. If I understand this is not correct. Div cannot have content, right?

<div itemprop="datePublished" content="2016-01-07"></div>
<div itemprop="dateModified" content="2016-08-17">Last Updated: 2016-01-07</div>

Option 2

<meta itemprop="datePublished" content="2016-01-07">
<meta itemprop="dateModified" content="2016-08-17"><div>Last updated: 2016-01-07</div>

Option 3

<time itemprop="datePublished" datetime="2016-01-07"></time>
<time itemprop="dateModified" datetime="2016-08-17">Last updated: 2016-01-07</time>

Question 1: Should I use meta, time, or both are correct?
Question 2: Should I separate "Last update" and put it in another div before meta or time?

<div>Last updated:</div>
<meta itemprop="dateModified" content="2016-08-17">
<div>2016-01-07</div> 

<div>Last Updated: </div>
<time itemprop="dateModified" datetime="2016-08-17">2016-01-07</time>

Answer 1

If you don’t want it to be visible, use meta.
If you want it to be visible, use time.

<meta itemprop="datePublished" content="2016-01-07">
Last updated: <time itemprop="dateModified" datetime="2016-08-17">2016-01-07</time>

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The div elements don’t affect the Microdata (unless they have Microdata attributes themselves, of course).

Option 3: While it’s technically possible to use an empty time element instead of a meta element, having empty elements is typically not a good practice. The meta element (and link for URIs) can be used for Microdata exactly for this purpose.

Option 2: It’s of course also possible to use meta and duplicate the content to make it visible, but this is also not a good practice. Why duplicate something if there is a way to prevent it?

Option 1: Yes, it’s invalid.