On July 1, 2021, Blackrock Municipal IT (NYSE:BLE) declared a dividend payable on August 2, 2021 to its shareholders. Blackrock Municipal IT also announced that shareholders on the company's books on or before July 15, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Blackrock Municipal IT, which has a current dividend per share of $0.06, has an ex-dividend date scheduled for July 14, 2021. That equates to a dividend yield of 4.72% 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. Most ex-dividend dates operate on a quarterly basis.

Over the past year, Blackrock Municipal IT has seen its dividend payouts remain the same and its yields trend downward. Last year on February 12, 2021 the company's payout sat at $0.06, which has returned to its value today. Blackrock Municipal IT's dividend yield last year was 4.84%, 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.