Putnam Managed Municipal (NYSE:PMM) declared a dividend payable on July 1, 2021 to its shareholders as of May 21, 2021. It was also announced that shareholders of Putnam Managed Municipal's stock as of June 24, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Putnam Managed Municipal, which has a current dividend per share of $0.03, has an ex-dividend date scheduled for June 23, 2021. That equates to a dividend yield of 4.58% at current price levels.

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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Over the past year, Putnam Managed Municipal has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on March 23, 2021 the company's payout was $0.03, which has returned to its value today. Putnam Managed Municipal's dividend yield last year was 4.71%, which has since decreased by 0.13%.
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.