Market Overview

Understanding Churchill Downs's Ex-Dividend Date


Churchill Downs (NASDAQ:CHDN) declared a dividend payable on January 6, 2021 to its shareholders as of October 28, 2020. It was also announced that shareholders of Churchill Downs's stock as of December 4, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Churchill Downs, whose current dividend payout is $0.62, has an ex-dividend date set at December 3, 2020. The payout equates to a dividend yield of 0.38% 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.

Churchill Downs's Dividend Performance

Over the past year, Churchill Downs has experienced an overall downward trend regarding its dividend payouts and yields. Last year on November 30, 2016 the company's payout was $1.32, which has since decreased by $0.7. Similarly, Churchill Downs's dividend yield last year was 2.89%, which has since declined by 2.51%.
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