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Analyzing Citizens Financial Group's Ex-Dividend Date

April 27, 2021 3:21 pm
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Citizens Financial Group (NYSE:CFG) declared a dividend payable on May 13, 2021 to its shareholders as of April 16, 2021. It was also announced that shareholders of Citizens Financial Group’s stock as of April 29, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Citizens Financial Group, which has a current dividend per share of $0.39, has an ex-dividend date scheduled for April 28, 2021. That equates to a dividend yield of 3.49% at current price levels.

What Are Ex-Dividend Dates?

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. Most ex-dividend dates operate on a quarterly basis.

Citizens Financial Group’s Dividend Performance

Over the past year, Citizens Financial Group has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on April 28, 2020 the company’s payout was $0.39, which has returned to its value today. Citizens Financial Group’s dividend yield last year was 9.08%, which has since decreased by 5.59%.
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 Citizens Financial Group click here.

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