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Analyzing PennantPark Floating Rate's Ex-Dividend Date

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Benzinga Insights
·2 min read
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On December 2, 2020, PennantPark Floating Rate (NASDAQ:PFLT) announced shareholders can expect to receive a dividend payable on January 4, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. PennantPark Floating Rate has an ex-dividend date planned for December 16, 2020. The company's current dividend payout sits at $0.1. That equates to a dividend yield of 10.66% at current price levels.

Understanding Ex-Dividend Dates'

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.

Understanding PennantPark Floating Rate's Dividend History

Over the past year, PennantPark Floating Rate has seen its dividend payouts remain the same and its yields trend downward. Last year on August 18, 2020 the company's payout sat at $0.1, which has returned to its value today. PennantPark Floating Rate's dividend yield last year was 13.7%, which has since decreased by 3.04%.
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 PennantPark Floating Rate click here.

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