Analyzing Pinnacle West Capital's Ex-Dividend Date

On October 22, 2020, Pinnacle West Capital PNW declared a dividend payable on December 1, 2020 to its shareholders. Pinnacle West Capital also announced that shareholders on the company's books on or before November 2, 2020 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Pinnacle West Capital has an ex-dividend date planned for October 30, 2020. The company's current dividend payout sits at $0.83. That equates to a dividend yield of 3.97% at current price levels.

What Is 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.

Pinnacle West Capital's Dividend Performance

Over the past year, Pinnacle West Capital has seen its dividend payouts and yields climb upward overall. Last year (November 1, 2019), the company's payout sat at $0.78, which has since increased by $0.05. Pinnacle West Capital's dividend yield last year was 3.31%, which has since grown by 0.66%.
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 Pinnacle West Capital's previous dividends.