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On January 28, 2021, Griffon (NYSE:GFF) declared a dividend payable on March 18, 2021 to its shareholders. Griffon also announced that shareholders on the company's books on or before February 18, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Griffon will be on February 17, 2021. The company's current dividend payout is at $0.08. That equates to a dividend yield of 1.47% at current price levels.
The Significance Of Ex-Dividend Dates
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.
Understanding Griffon's Dividend Performance
Over the past year, Griffon has experienced an overall upward trend regarding its dividend payouts and yields. Last year on February 19, 2020 the company's payout was $0.07, which has since grown by $0.01. Similarly, Griffon's dividend yield in last year was 1.37%, which has since grown by 0.1%.
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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