Understanding Community Bank System's Ex-Dividend Date

Community Bank System CBU declared a dividend payable on January 11, 2021 to its shareholders as of November 18, 2020. It was also announced that shareholders of Community Bank System's stock as of December 14, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Community Bank System, which has a current dividend per share of $0.42, has an ex-dividend date scheduled for December 11, 2020. That equates to a dividend yield of 2.54% at current price levels.

What Is An Ex-Dividend Date?

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.

Community Bank System's Dividend Payouts And Yields

Over the past year, Community Bank System has experienced an overall upward trend regarding its dividend payouts and yields. Last year on December 12, 2019 the company's payout was $0.41, which has since grown by $0.01. Similarly, Community Bank System's dividend yield in last year was 2.43%, which has since grown by 0.11%.
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.

Click here to find details on Community Bank System's previous dividends.