Analyzing Sandy Spring Bancorp's Ex-Dividend Date

On January 28, 2021, Sandy Spring Bancorp SASR declared a dividend payable on February 24, 2021 to its shareholders. Sandy Spring Bancorp also announced that shareholders on the company's books on or before February 17, 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 Sandy Spring Bancorp will be on February 16, 2021. The company's current dividend payout is at $0.32. That equates to a dividend yield of 3.8% at current price levels.

The Significance Of 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.

Sandy Spring Bancorp's Dividend Performance

Over the past year, Sandy Spring Bancorp has seen its dividend payouts and yields climb upward overall. Last year (February 11, 2020), the company's payout sat at $0.3, which has since increased by $0.02. Sandy Spring Bancorp's dividend yield last year was 3.46%, which has since grown by 0.34%.
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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