Analyzing New Jersey Resources's Ex-Dividend Date
On January 19, 2021, New Jersey Resources (NYSE:NJR) announced shareholders can expect to receive a dividend payable on April 1, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. New Jersey Resources, which has a current dividend per share of $0.33, has an ex-dividend date scheduled for March 16, 2021. That equates to a dividend yield of 3.53% 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.
Understanding New Jersey Resources's Dividend Performance
Over the past year, New Jersey Resources has experienced an overall upward trend regarding its dividend payouts and yields. Last year on March 16, 2020 the company's payout was $0.31, which has since grown by $0.02. Similarly, New Jersey Resources's dividend yield in last year was 2.84%, which has since grown by 0.69%.
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.
To read more news on New Jersey Resources click here.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
