Ex-Dividend Date Insight: Reaves Utility Income
Reaves Utility Income (AMEX:UTG) declared a dividend payable on June 30, 2021 to its shareholders as of April 9, 2021. It was also announced that shareholders of Reaves Utility Income’s stock as of June 18, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Reaves Utility Income has an ex-dividend date planned for June 17, 2021. The company’s current dividend payout sits at $0.18. That equates to a dividend yield of 6.39% at current price levels.
What Are Ex-Dividend Dates?
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.
Reaves Utility Income’s Dividend Payouts And Yields
Over the past year, Reaves Utility Income has seen its dividend payouts remain the same and its yields trend downward. Last year on February 16, 2021 the company’s payout sat at $0.18, which has returned to its value today. Reaves Utility Income’s dividend yield last year was 6.51%, which has since decreased by 0.12%.
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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