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Analyzing Ally Financial's Ex-Dividend Date

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Benzinga Insights
·1 min read
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On October 7, 2020, Ally Financial (NYSE: ALLY) announced shareholders can expect to receive a dividend payable on November 13, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. Ally Financial, which has a current dividend payout of $0.19, has an ex-dividend date scheduled for October 29, 2020. That equates to a dividend yield of 2.85% at current price levels.

What Is An Ex-Dividend Date?

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.

Ally Financial's Dividend History

Over the past year, Ally Financial has experienced an overall upward trend regarding its dividend payouts and yields. Last year on October 31, 2019 the company's payout was $0.17, which has since grown by $0.02. Similarly, Ally Financial's dividend yield in last year was 2.17%, which has since grown by 0.68%.
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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