Analyzing Rexnord's Ex-Dividend Date
Rexnord (NYSE:RXN) declared a dividend payable on June 7, 2021 to its shareholders as of May 4, 2021. It was also announced that shareholders of Rexnord’s stock as of May 20, 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 Rexnord will be on May 19, 2021. The company’s current dividend payout is at $0.09. That equates to a dividend yield of 0.71% at current price levels.
What Is 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.
Rexnord’s Dividend Performance
Over the past year, Rexnord has seen its dividend payouts climb upward and its yields trend downward. Last year on May 19, 2020 the company’s payout sat at $0.08, which has since increased by $0.01. Rexnord’s dividend yield last year was 1.25%, which has since decreased by 0.54%.
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.
To read more news on Rexnord click here.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.