Ex-Dividend Date Insight: Northwest Bancshares
On January 25, 2021, Northwest Bancshares (NASDAQ:NWBI) announced shareholders can expect to receive a dividend payable on February 15, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Northwest Bancshares, which has a current dividend per share of $0.19, has an ex-dividend date scheduled for February 3, 2021. That equates to a dividend yield of 5.48% at current price levels.
What Are Ex-Dividend Dates?
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.
Northwest Bancshares's Dividend Performance
Over the past year, Northwest Bancshares has seen its dividend payouts remain the same and its yields climb upward overall. Last year on February 5, 2020 the company's payout sat at $0.19, which has returned to its value today. Northwest Bancshares's dividend yield last year was 4.7%, which has since grown by 0.78%.
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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