Ex-Dividend Date Insight: Tompkins Financial

On January 29, 2021, Tompkins Financial TMP declared a dividend payable on February 16, 2021 to its shareholders. Tompkins Financial also announced that shareholders on the company's books on or before February 9, 2021 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 Tompkins Financial is set for February 8, 2021. The company's current dividend payout sits at $0.54, equating to a dividend yield of 3.07% 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. Most ex-dividend dates operate on a quarterly basis.

Tompkins Financial's Dividend Performance

Over the past year, Tompkins Financial has seen its dividend payouts and yields climb upward overall. Last year (February 7, 2020), the company's payout sat at $0.52, which has since increased by $0.02. Tompkins Financial's dividend yield last year was 2.37%, which has since grown by 0.7%.
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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