On October 15, 2020, Targa Resources TRGP announced shareholders can expect to receive a dividend payable on November 16, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Targa Resources will be on October 29, 2020. The company's current dividend payout is at $0.1. That equates to a dividend yield of 2.31% at current price levels.
The Significance Of An Ex-Dividend Date
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. Most ex-dividend dates operate on a quarterly basis.
Targa Resources's Dividend Payouts And Yields
Over the past year, Targa Resources has seen its dividend payouts and yields descend downward overall. Last year on October 31, 2019 the company's payout sat at $0.91, which has since decreased by $0.81. Targa Resources's dividend yield last year was 9.37%, which has since declined by 7.06%.
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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