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On November 23, 2020, Renasant (NASDAQ:RNST) declared a dividend payable on January 1, 2021 to its shareholders. Renasant also announced that shareholders on the company's books on or before December 18, 2020 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Renasant has an ex-dividend date set for for December 17, 2020. The company's current dividend payout is $0.22, which equates to a dividend yield of 2.75% at current price levels.
What Is An Ex-Dividend Date?
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An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Typically, companies will announce and implement new dividend yields on a quarterly basis.
Understanding Renasant's Dividend Payouts And Yields
Over the past year, Renasant has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on December 17, 2019 the company's payout was $0.22, which has returned to its value today. Renasant's dividend yield last year was 2.47%, which has since grown by 0.28%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.
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Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.