Understanding BP Midstream Partners's Ex-Dividend Date

On January 13, 2021, BP Midstream Partners BPMP announced shareholders can expect to receive a dividend payable on February 11, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. BP Midstream Partners has an ex-dividend date set for for January 27, 2021. The company's current dividend payout is $0.35, which equates to a dividend yield of 10.78% at current price levels.

What Are 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.

BP Midstream Partners's Dividend Performance

Over the past year, BP Midstream Partners has seen its dividend payouts remain the same and its yields climb upward overall. Last year on January 29, 2020 the company's payout sat at $0.35, which has returned to its value today. BP Midstream Partners's dividend yield last year was 8.33%, which has since grown by 2.45%.
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 BP Midstream Partners's previous dividends.