Understanding Patterson-UTI Energy's Ex-Dividend Date

Patterson-UTI Energy PTEN declared a dividend payable on March 18, 2021 to its shareholders as of February 4, 2021. It was also announced that shareholders of Patterson-UTI Energy's stock as of March 4, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Patterson-UTI Energy, whose current dividend payout is $0.02, has an ex-dividend date set at March 3, 2021. The payout equates to a dividend yield of 1.2% at current price levels.

What Is An Ex-Dividend Date?

Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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.

Patterson-UTI Energy's Dividend Performance

Over the past year, Patterson-UTI Energy has experienced an overall downward trend regarding its dividend payouts and yields. Last year on March 4, 2020 the company's payout was $0.04, which has since decreased by $0.02. Similarly, Patterson-UTI Energy's dividend yield last year was 1.9%, which has since declined 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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