Clorox (NYSE:CLX) declared a dividend payable on May 7, 2021 to its shareholders as of February 9, 2021. It was also announced that shareholders of Clorox's stock as of April 21, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Clorox has an ex-dividend date set for for April 20, 2021. The company's current dividend payout is $1.11, which equates to a dividend yield of 2.34% at current price levels.

An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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.

Over the past year, Clorox has seen its dividend payouts climb upward and its yields trend downward. Last year on April 21, 2020 the company's payout sat at $1.06, which has since increased by $0.05. Clorox's dividend yield last year was 2.53%, which has since decreased by 0.19%.
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.