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On June 24, 2021, First Bancorp (NASDAQ:FNLC) declared a dividend payable on July 19, 2021 to its shareholders. First Bancorp also announced that shareholders on the company's books on or before July 8, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. First Bancorp has an ex-dividend date set for for July 7, 2021. The company's current dividend payout is $0.32, which equates to a dividend yield of 4.28% at current price levels.
The Significance Of Ex-Dividend Dates
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An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. 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 First Bancorp's Dividend Performance
Over the past year, First Bancorp has seen its dividend payouts climb upward and its yields trend downward. Last year on July 6, 2020 the company's payout sat at $0.31, which has since increased by $0.01. First Bancorp's dividend yield last year was 6.51%, which has since decreased by 2.23%.
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.