Analyzing MSC Industrial Direct Co's Ex-Dividend Date
MSC Industrial Direct Co (NYSE:MSM) declared a dividend payable on January 26, 2021 to its shareholders as of December 16, 2020. It was also announced that shareholders of MSC Industrial Direct Co's stock as of January 12, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. MSC Industrial Direct Co has an ex-dividend date set for for January 11, 2021. The company's current dividend payout is $0.75, which equates to a dividend yield of 3.54% at current price levels.
What Is An Ex-Dividend Date?
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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.
MSC Industrial Direct Co's Dividend Performance
Over the past year, MSC Industrial Direct Co has seen its dividend payouts remain the same and its yields trend downward. Last year on April 13, 2020 the company's payout sat at $0.75, which has returned to its value today. MSC Industrial Direct Co's dividend yield last year was 5.55%, which has since decreased by 2.01%.
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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