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Ex-Dividend Date Insight: BNY Mellon Strategic

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On November 27, 2020, BNY Mellon Strategic (NYSE:LEO) declared a dividend payable on December 31, 2020 to its shareholders. BNY Mellon Strategic also announced that shareholders on the company's books on or before December 14, 2020 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. BNY Mellon Strategic has an ex-dividend date planned for December 11, 2020. The company's current dividend payout sits at $0.04. That equates to a dividend yield of 5.02% at current price levels.

The Significance Of An Ex-Dividend Date

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.

Understanding BNY Mellon Strategic's Dividend Performance

Over the past year, BNY Mellon Strategic has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on August 13, 2020 the company's payout was $0.04, which has returned to its value today. BNY Mellon Strategic's dividend yield last year was 5.04%, which has since decreased by 0.02%.
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.

To read more about BNY Mellon Strategic click here.

 

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Posted-In: Dividends