+ 4.33
+ 1.27%
+ 2.11
+ 1.5%

Analyzing ALLETE's Ex-Dividend Date

May 12, 2021 10:26 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

On April 29, 2021, ALLETE (NYSE:ALE) announced shareholders can expect to receive a dividend payable on June 1, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. ALLETE has an ex-dividend date planned for May 13, 2021. The company’s current dividend payout sits at $0.63. That equates to a dividend yield of 3.66% at current price levels.

The Significance Of Ex-Dividend Dates

An ex-dividend date is when a company’s shares stop trading with its current dividend payout in preparation for the company to announce a new one. 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.

Understanding ALLETE’s Dividend History

Over the past year, ALLETE has seen its dividend payouts climb upward and its yields trend downward. Last year on May 14, 2020 the company’s payout sat at $0.62, which has since increased by $0.01. ALLETE’s dividend yield last year was 4.02%, 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.

Click here to find details on ALLETE’s previous dividends.

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.



Related Articles

Understanding ALLETE's Ex-Dividend Date

ALLETE (NYSE: ALE) declared a dividend payable on December 1, 2020 to its shareholders as of October 30, 2020. It was also announced that shareholders of ALLETE's stock as of November 16, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. read more

ALLETE Raises Qtr. Dividend from $0.505 to $0.52/Share

ALLETE Raises Quarterly Stock Dividend From $0.49 To $0.505/share

Allete Shares Unchanged After 3.2% Dividend Increase to $0.49 per Share