Analyzing City Office REIT's Ex-Dividend Date
On December 15, 2020, City Office REIT (NYSE:CIO) announced shareholders can expect to receive a dividend payable on January 25, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for City Office REIT is set for January 8, 2021. The company's current dividend payout sits at $0.15, equating to a dividend yield of 6.22% at current price levels.
The Significance Of Ex-Dividend Dates
Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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.
Understanding City Office REIT's Dividend Payouts And Yields
Over the past year, City Office REIT has experienced an overall downward trend regarding its dividend payouts and yields. Last year on January 9, 2020 the company's payout was $0.23, which has since decreased by $0.08. Similarly, City Office REIT's dividend yield last year was 7.38%, which has since declined by 1.16%.
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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