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Open Text (NASDAQ:OTEX) declared a dividend payable on March 26, 2021 to its shareholders as of February 3, 2021. It was also announced that shareholders of Open Text's stock as of March 5, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Open Text has an ex-dividend date set for for March 4, 2021. The company's current dividend payout is $0.2, which equates to a dividend yield of 1.72% at current price levels.
The Significance Of Ex-Dividend Dates
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Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. 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.
Open Text's Dividend Payouts And Yields
Over the past year, Open Text has seen its dividend payouts and yields climb upward overall. Last year (February 27, 2020), the company's payout sat at $0.17, which has since increased by $0.03. Open Text's dividend yield last year was 1.48%, which has since grown by 0.24%.
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.