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Analyzing Independent Bank's Ex-Dividend Date

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Independent Bank (NASDAQ: IBCP) declared a dividend payable on November 16, 2020 to its shareholders as of October 20, 2020. It was also announced that shareholders of Independent Bank's stock as of November 5, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Independent Bank will be on November 4, 2020. The company's current dividend payout is at $0.2. That equates to a dividend yield of 5.71% at current price levels.

What Are Ex-Dividend Dates?

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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Independent Bank's Dividend Performance

Over the past year, Independent Bank has experienced an overall upward trend regarding its dividend payouts and yields. Last year on November 5, 2019 the company's payout was $0.18, which has since grown by $0.02. Similarly, Independent Bank's dividend yield in last year was 3.34%, which has since grown by 2.37%.
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 Independent Bank's previous dividends.

 

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Posted-In: Dividends