This template links a published article to another published article, published later, that is very closely related so that anyone who reads the earlier article should be alerted to the later. Such links to later articles are much rarer than links to earlier articles (which would go in the optional Related news section.)
Usually, place the template just before the Related news section of the article, or just before where Related news would be.
The first unnamed parameter to this template is the name of the later article. The second, optional unnamed parameter is the date of the later article. Third and fourth optional unnamed parameters can be used similarly to list a second later article.