On November 23, 2020, Ocean Bio-Chem OBCI announced shareholders can expect to receive a dividend payable on December 17, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. Ocean Bio-Chem, whose current dividend payout is $0.02, has an ex-dividend date set at December 2, 2020. The payout equates to a dividend yield of 0.64% at current price levels.
What Are 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.
Ocean Bio-Chem's Dividend History
Over the past year, Ocean Bio-Chem has seen its dividend payouts and yields descend downward overall. Last year on April 4, 2019 the company's payout sat at $0.05, which has since decreased by $0.03. Ocean Bio-Chem's dividend yield last year was 16.0%, which has since declined by 15.36%.
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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