Market Overview

Understanding Magellan Midstream's Ex-Dividend Date


Magellan Midstream (NYSE: MMP) declared a dividend payable on November 13, 2020 to its shareholders as of October 22, 2020. It was also announced that shareholders of Magellan Midstream's stock as of November 6, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Magellan Midstream has an ex-dividend date planned for November 5, 2020. The company's current dividend payout sits at $1.03. That equates to a dividend yield of 11.41% at current price levels.

Understanding Ex-Dividend Dates'

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.

Magellan Midstream's Dividend History

Over the past year, Magellan Midstream has experienced an overall upward trend regarding its dividend payouts and yields. Last year on November 6, 2019 the company's payout was $1.02, which has since grown by $0.01. Similarly, Magellan Midstream's dividend yield in last year was 6.45%, which has since grown by 4.96%.
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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Posted-In: Dividends