Analyzing Sandy Spring Bancorp's Ex-Dividend Date

On January 28, 2021, Sandy Spring Bancorp SASR announced shareholders can expect to receive a dividend payable on February 24, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Sandy Spring Bancorp, whose current dividend payout is $0.32, has an ex-dividend date set at February 16, 2021. The payout equates to a dividend yield of 3.8% at current price levels.

The Significance Of An Ex-Dividend Date

Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. 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.

Sandy Spring Bancorp's Dividend History

Over the past year, Sandy Spring Bancorp has experienced an overall upward trend regarding its dividend payouts and yields. Last year on February 11, 2020 the company's payout was $0.3, which has since grown by $0.02. Similarly, Sandy Spring Bancorp's dividend yield in 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.

To read more news on Sandy Spring Bancorp click here.