Understanding Protective Insurance's Ex-Dividend Date
On May 4, 2021, Protective Insurance (NASDAQ:PTVCB) 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. Protective Insurance, which has a current dividend per share of $0.1, has an ex-dividend date scheduled for May 17, 2021. That equates to a dividend yield of 1.74% at current price levels.
The Significance Of Ex-Dividend Dates
Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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 Protective Insurance’s Dividend History
Over the past year, Protective Insurance has seen its dividend payouts remain the same and its yields trend downward. Last year on May 18, 2020 the company’s payout sat at $0.1, which has returned to its value today. Protective Insurance’s dividend yield last year was 2.9%, which has since decreased by 1.16%.
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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