Understanding SITE Centers's Ex-Dividend Date

On November 12, 2020, SITE Centers SITC declared a dividend payable on January 7, 2021 to its shareholders. SITE Centers also announced that shareholders on the company's books on or before December 11, 2020 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for SITE Centers is set for December 10, 2020. The company's current dividend payout sits at $0.05, equating to a dividend yield of 2.25% at current price levels.

The Significance Of Ex-Dividend Dates

Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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.

Understanding SITE Centers's Dividend History

Over the past year, SITE Centers has seen its dividend payouts and yields descend downward overall. Last year on June 11, 2019 the company's payout sat at $0.2, which has since decreased by $0.15. SITE Centers's dividend yield last year was 6.0%, which has since declined by 3.75%.
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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