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On June 16, 2021, Preferred Bank (NASDAQ:PFBC) announced shareholders can expect to receive a dividend payable on July 21, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Preferred Bank, which has a current dividend per share of $0.38, has an ex-dividend date scheduled for July 6, 2021. That equates to a dividend yield of 2.27% at current price levels.
What Is An Ex-Dividend Date?
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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. Most ex-dividend dates operate on a quarterly basis.
Understanding Preferred Bank's Dividend Performance
Over the past year, Preferred Bank has seen its dividend payouts climb upward and its yields trend downward. Last year on July 6, 2020 the company's payout sat at $0.3, which has since increased by $0.08. Preferred Bank's dividend yield last year was 2.83%, which has since decreased by 0.56%.
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.
Click here to find details on Preferred Bank's previous dividends.
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.