Ex-Dividend Date Insight: Protective Insurance
Protective Insurance (NASDAQ:PTVCA) declared a dividend payable on June 1, 2021 to its shareholders as of May 4, 2021. It was also announced that shareholders of Protective Insurance’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. The ex-dividend date for Protective Insurance is set for May 17, 2021. The company’s current dividend payout sits at $0.1, equating to a dividend yield of 1.74% at current price levels.
The Significance Of An Ex-Dividend Date
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. Typically, companies will announce and implement new dividend yields on a quarterly basis.
Understanding Protective Insurance’s Dividend History
Over the past year, Protective Insurance has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on May 18, 2020 the company’s payout was $0.1, which has returned to its value today. Protective Insurance’s dividend yield last year was 2.16%, which has since decreased by 0.42%.
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 Protective Insurance’s previous dividends.
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