Understanding ConnectOne Bancorp's Ex-Dividend Date
On April 29, 2021, ConnectOne Bancorp (NASDAQ:CNOB) declared a dividend payable on June 1, 2021 to its shareholders. ConnectOne Bancorp also announced that shareholders on the company’s books on or before May 17, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for ConnectOne Bancorp is set for May 14, 2021. The company’s current dividend payout sits at $0.11, equating to a dividend yield of 1.63% at current price levels.
What Is An Ex-Dividend Date?
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.
ConnectOne Bancorp’s Dividend History
Over the past year, ConnectOne Bancorp has seen its dividend payouts climb upward and its yields trend downward. Last year on April 24, 2020 the company’s payout sat at $0.09, which has since increased by $0.02. ConnectOne Bancorp’s dividend yield last year was 2.53%, which has since decreased by 0.9%.
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 ConnectOne Bancorp’s previous dividends.
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