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On November 4, 2020, Miller Industries (NYSE:MLR) declared a dividend payable on December 14, 2020 to its shareholders. Miller Industries also announced that shareholders on the company's books on or before December 7, 2020 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Miller Industries has an ex-dividend date planned for December 4, 2020. The company's current dividend payout sits at $0.18. That equates to a dividend yield of 2.26% at current price levels.
The Significance Of An Ex-Dividend Date
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. Typically, companies will announce and implement new dividend yields on a quarterly basis.
Understanding Miller Industries's Dividend History
Over the past year, Miller Industries has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on December 6, 2019 the company's payout was $0.18, which has returned to its value today. Miller Industries's dividend yield last year was 1.93%, which has since grown by 0.33%.
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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