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Ex-Dividend Date Insight: Steelcase

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On March 23, 2021, Steelcase (NYSE:SCS) announced shareholders can expect to receive a dividend payable on April 15, 2021. The stock will then go ex-dividend 2 business day(s) before the record date. Steelcase has an ex-dividend date set for for April 1, 2021. The company's current dividend payout is $0.1, which equates to a dividend yield of 2.6% 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.

Understanding Steelcase's Dividend Performance

Over the past year, Steelcase has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on April 2, 2020 the company's payout was $0.07, which has since grown by $0.03. Steelcase's dividend yield last year was 2.96%, which has since decreased by 0.36%.
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 about Steelcase click here.

 

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Posted-In: BZI-ExDivDividends

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