Understanding Salient Midstream's Ex-Dividend Date
Salient Midstream (NYSE:SMM) declared a dividend payable on May 27, 2021 to its shareholders as of May 6, 2021. It was also announced that shareholders of Salient Midstream’s stock as of May 18, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Salient Midstream has an ex-dividend date set for for May 17, 2021. The company’s current dividend payout is $0.06, which equates to a dividend yield of 4.41% at current price levels.
What Is An Ex-Dividend Date?
Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. 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.
Salient Midstream’s Dividend History
Over the past year, Salient Midstream has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on May 15, 2020 the company’s payout was $0.06, which has returned to its value today. Salient Midstream’s dividend yield last year was 5.76%, which has since decreased by 1.35%.
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.
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