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Understanding Herman Miller's Ex-Dividend Date

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On September 16, 2020, Herman Miller (NASDAQ: MLHR) declared a dividend payable on January 15, 2021 to its shareholders. Herman Miller also announced that shareholders on the company's books on or before November 28, 2020 are entitled to the dividend. The stock will then go ex-dividend 3 business day(s) before the record date. Herman Miller has an ex-dividend date planned for November 25, 2020. The company's current dividend payout sits at $0.19. That equates to a dividend yield of 3.01% at current price levels.

Understanding 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.

Herman Miller's Dividend History

Over the past year, Herman Miller has seen its dividend payouts descend downward and yields trend upward. Last year on May 30, 2019 the company's payout sat at $0.2, which has since decreased by $0.01. Herman Miller's dividend yield last year was 2.17%, which has since grown by 0.84%.
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