On June 15, 2021, City Office REIT CIO declared a dividend payable on July 23, 2021 to its shareholders. City Office REIT also announced that shareholders on the company's books on or before July 9, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. City Office REIT, which has a current dividend per share of $0.15, has an ex-dividend date scheduled for July 8, 2021. That equates to a dividend yield of 4.71% at current price levels.
Understanding 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.
City Office REIT's Dividend Payouts And Yields
Over the past year, City Office REIT has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on July 9, 2020 the company's payout was $0.15, which has returned to its value today. City Office REIT's dividend yield last year was 6.22%, which has since decreased by 1.51%.
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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