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On December 9, 2020, Toll Brothers (NYSE:TOL) declared a dividend payable on January 22, 2021 to its shareholders. Toll Brothers also announced that shareholders on the company's books on or before January 8, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Toll Brothers, which has a current dividend per share of $0.11, has an ex-dividend date scheduled for January 7, 2021. That equates to a dividend yield of 0.97% at current price levels.
The Significance Of An Ex-Dividend Date
An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. 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.
Toll Brothers's Dividend Performance
Over the past year, Toll Brothers has seen its dividend payouts remain the same and its yields trend downward. Last year on January 9, 2020 the company's payout sat at $0.11, which has returned to its value today. Toll Brothers's dividend yield last year was 1.12%, which has since decreased by 0.15%.
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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