Understanding Ovintiv's Ex-Dividend Date

On October 28, 2020, Ovintiv OVV declared a dividend payable on December 31, 2020 to its shareholders. Ovintiv also announced that shareholders on the company's books on or before December 15, 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 Ovintiv will be on December 14, 2020. The company's current dividend payout is at $0.09. That equates to a dividend yield of 4.05% 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.

Understanding Ovintiv's Dividend Performance

Over the past year, Ovintiv has seen its dividend payouts and yields climb upward overall. Last year (December 12, 2019), the company's payout sat at $0.02, which has since increased by $0.08. Ovintiv's dividend yield last year was 0.36%, which has since grown by 3.69%.
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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